Jacobs & Co. CA reduced its position in shares of ConocoPhillips (NYSE:COP) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,047 shares of the energy producer’s stock after selling 425 shares during the quarter. Jacobs & Co. CA’s holdings in ConocoPhillips were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Manchester Financial Inc. acquired a new position in shares of ConocoPhillips during the 2nd quarter worth about $34,000. Destination Wealth Management grew its position in shares of ConocoPhillips by 592.6% in the 1st quarter. Destination Wealth Management now owns 561 shares of the energy producer’s stock valued at $37,000 after purchasing an additional 480 shares during the period. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the 1st quarter valued at approximately $42,000. Glassman Wealth Services grew its position in shares of ConocoPhillips by 779.2% in the 1st quarter. Glassman Wealth Services now owns 633 shares of the energy producer’s stock valued at $42,000 after purchasing an additional 561 shares during the period. Finally, Lipe & Dalton acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $53,000. 73.64% of the stock is owned by hedge funds and other institutional investors.

NYSE:COP traded down $1.88 during trading hours on Wednesday, reaching $51.99. 1,184,843 shares of the stock were exchanged, compared to its average volume of 6,560,613. ConocoPhillips has a twelve month low of $52.30 and a twelve month high of $80.24. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The company’s 50 day simple moving average is $58.96. The stock has a market capitalization of $59.96 billion, a PE ratio of 11.48, a PEG ratio of 1.41 and a beta of 0.99.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, July 30th. The energy producer reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.02). ConocoPhillips had a return on equity of 15.96% and a net margin of 18.33%. The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $9.42 billion. During the same period last year, the company earned $1.09 EPS. The company’s revenue was down 9.3% compared to the same quarter last year. Analysts forecast that ConocoPhillips will post 4.04 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, July 22nd will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Friday, July 19th. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.93%.

Several equities analysts recently issued reports on COP shares. Mizuho upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $74.00 to $80.00 in a research report on Wednesday, June 26th. Bank of America upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. decreased their price objective on ConocoPhillips from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Credit Suisse Group lowered ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price objective for the company. in a research report on Wednesday, May 1st. Finally, Zacks Investment Research upgraded ConocoPhillips from a “strong sell” rating to a “hold” rating and set a $52.00 price objective for the company in a research report on Thursday, July 11th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $77.07.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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