Sandy Spring Bank decreased its position in shares of ConocoPhillips (NYSE:COP) by 18.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 54,404 shares of the company’s stock after selling 12,327 shares during the period. Sandy Spring Bank’s holdings in ConocoPhillips were worth $2,374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its position in ConocoPhillips by 4.2% in the first quarter. State Street Corp now owns 56,542,943 shares of the company’s stock worth $2,276,976,000 after buying an additional 2,293,983 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in ConocoPhillips by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 32,736,116 shares of the company’s stock worth $1,318,283,000 after buying an additional 522,198 shares during the last quarter. Bank of New York Mellon Corp boosted its position in ConocoPhillips by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 14,091,927 shares of the company’s stock worth $614,409,000 after buying an additional 320,848 shares during the last quarter. BlackRock Group LTD boosted its position in ConocoPhillips by 0.3% in the first quarter. BlackRock Group LTD now owns 12,121,796 shares of the company’s stock worth $488,146,000 after buying an additional 41,306 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in ConocoPhillips by 16.6% in the second quarter. Ameriprise Financial Inc. now owns 12,097,088 shares of the company’s stock worth $527,432,000 after buying an additional 1,718,788 shares during the last quarter. 63.70% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ConocoPhillips (NYSE:COP) traded up 2.67% during midday trading on Thursday, reaching $41.13. 3,952,130 shares of the company’s stock were exchanged. The company’s market capitalization is $50.94 billion. ConocoPhillips has a 1-year low of $31.05 and a 1-year high of $57.24. The firm has a 50-day moving average of $41.52 and a 200-day moving average of $42.61.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, July 28th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.61) by $0.18. The firm earned $5.58 billion during the quarter, compared to the consensus estimate of $5.38 billion. ConocoPhillips had a negative return on equity of 9.26% and a negative net margin of 28.40%. The firm’s revenue for the quarter was down 35.6% compared to the same quarter last year. During the same period last year, the business earned $0.07 earnings per share. Equities analysts expect that ConocoPhillips will post ($2.48) earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, July 25th were given a $0.25 dividend. The ex-dividend date was Thursday, July 21st. This represents a $1.00 annualized dividend and a yield of 2.50%. ConocoPhillips’s dividend payout ratio (DPR) is currently -17.57%.

A number of research analysts have recently commented on COP shares. Jefferies Group reissued a “sell” rating on shares of ConocoPhillips in a research report on Thursday, June 30th. Credit Suisse Group AG reissued a “neutral” rating on shares of ConocoPhillips in a research report on Tuesday, September 6th. Bank of America Corp. restated a “buy” rating and issued a $71.00 price target on shares of ConocoPhillips in a research note on Friday, June 3rd. Vetr upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating and set a $42.73 price target for the company in a research note on Monday, September 12th. Finally, JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and set a $51.00 price target for the company in a research note on Monday, September 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $48.63.

In other news, Director Arjun N. Murti bought 6,500 shares of ConocoPhillips stock in a transaction that occurred on Monday, August 1st. The stock was purchased at an average cost of $39.72 per share, with a total value of $258,180.00. Following the completion of the transaction, the director now directly owns 19,000 shares in the company, valued at $754,680. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ellen Desanctis bought 5,000 shares of ConocoPhillips stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average cost of $40.50 per share, with a total value of $202,500.00. Following the completion of the transaction, the vice president now owns 22,010 shares of the company’s stock, valued at $891,405. The disclosure for this purchase can be found here. 0.07% of the stock is owned by corporate insiders.

About ConocoPhillips

ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.

5 Day Chart for NYSE:COP

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