Bridgewater Associates LP trimmed its position in shares of ConocoPhillips (NYSE:COP) by 74.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,334 shares of the energy producer’s stock after selling 229,510 shares during the period. Bridgewater Associates LP’s holdings in ConocoPhillips were worth $3,488,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. increased its stake in shares of ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after buying an additional 6 shares during the period. Canal Capital Management LLC increased its stake in shares of ConocoPhillips by 0.3% during the second quarter. Canal Capital Management LLC now owns 6,342 shares of the energy producer’s stock worth $279,000 after buying an additional 22 shares during the period. Wendell David Associates Inc. increased its stake in shares of ConocoPhillips by 0.3% during the second quarter. Wendell David Associates Inc. now owns 7,561 shares of the energy producer’s stock worth $332,000 after buying an additional 26 shares during the period. Sheets Smith Wealth Management increased its stake in shares of ConocoPhillips by 0.3% during the second quarter. Sheets Smith Wealth Management now owns 13,694 shares of the energy producer’s stock worth $602,000 after buying an additional 37 shares during the period. Finally, Cornerstone Advisors Inc. increased its stake in shares of ConocoPhillips by 1.0% during the second quarter. Cornerstone Advisors Inc. now owns 3,755 shares of the energy producer’s stock worth $165,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 70.17% of the company’s stock.

Shares of ConocoPhillips (COP) opened at $52.99 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $54.22. The firm has a market capitalization of $63,350.39, a price-to-earnings ratio of 2,649.50, a P/E/G ratio of 13.72 and a beta of 1.28.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the company earned ($0.66) earnings per share. analysts anticipate that ConocoPhillips will post 0.52 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, October 13th. ConocoPhillips’s dividend payout ratio is presently -57.30%.

COP has been the topic of a number of recent research reports. Citigroup Inc. cut their target price on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Cowen and Company set a $55.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada set a $62.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Sunday, July 16th. Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC set a $59.00 price target on ConocoPhillips and gave the company a “buy” rating in a report on Sunday, July 30th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. ConocoPhillips presently has a consensus rating of “Hold” and a consensus target price of $55.37.

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ConocoPhillips 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.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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