Wilen Investment Management CORP. trimmed its position in shares of ConocoPhillips (NYSE:COP) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,717 shares of the energy producer’s stock after selling 844 shares during the period. ConocoPhillips accounts for approximately 2.4% of Wilen Investment Management CORP.’s investment portfolio, making the stock its 13th biggest position. Wilen Investment Management CORP.’s holdings in ConocoPhillips were worth $3,903,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Patten & Patten Inc. TN increased its holdings in ConocoPhillips by 4.6% during the second quarter. Patten & Patten Inc. TN now owns 59,322 shares of the energy producer’s stock worth $2,608,000 after buying an additional 2,607 shares during the last quarter. Point View Wealth Management Inc. increased its holdings in ConocoPhillips by 19.8% during the second quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock worth $1,448,000 after buying an additional 5,452 shares during the last quarter. Shell Asset Management Co. increased its holdings in ConocoPhillips by 2.4% during the second quarter. Shell Asset Management Co. now owns 202,066 shares of the energy producer’s stock worth $8,883,000 after buying an additional 4,647 shares during the last quarter. First Foundation Advisors acquired a new position in ConocoPhillips during the first quarter worth $497,000. Finally, FMR LLC increased its holdings in ConocoPhillips by 6.9% during the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares during the last quarter. Institutional investors and hedge funds own 68.88% of the company’s stock.

A number of equities analysts recently weighed in on COP shares. Sanford C. Bernstein downgraded shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $63.00 to $42.00 in a report on Thursday, July 6th. Wolfe Research downgraded shares of ConocoPhillips from an “outperform” rating to a “market perform” rating in a report on Monday, July 17th. Zacks Investment Research downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Royal Bank Of Canada set a $62.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Sunday, July 16th. Finally, Cowen and Company set a $55.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, July 18th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $55.20.

ConocoPhillips (NYSE COP) opened at 51.15 on Wednesday. The company has a 50-day moving average price of $49.26 and a 200-day moving average price of $46.21. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $53.17. The firm’s market cap is $62.25 billion.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping the consensus estimate of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The business had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the company earned ($0.66) EPS. On average, equities research analysts forecast that ConocoPhillips will post $0.41 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, October 16th will be paid a $0.265 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.06 annualized dividend and a yield of 2.07%. ConocoPhillips’s dividend payout ratio is currently -57.30%.

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ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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