First Trust Advisors LP Has $21.01 Million Stake in ConocoPhillips (COP)

First Trust Advisors LP reduced its stake in ConocoPhillips (NYSE:COP) by 48.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 421,369 shares of the energy producer’s stock after selling 398,985 shares during the period. First Trust Advisors LP’s holdings in ConocoPhillips were worth $21,014,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of COP. Norges Bank bought a new stake in shares of ConocoPhillips during the fourth quarter valued at about $496,521,000. FMR LLC boosted its stake in shares of ConocoPhillips by 17.3% in the fourth quarter. FMR LLC now owns 57,515,901 shares of the energy producer’s stock valued at $2,883,848,000 after buying an additional 8,487,514 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of ConocoPhillips by 156.5% in the fourth quarter. Franklin Resources Inc. now owns 8,242,882 shares of the energy producer’s stock valued at $413,364,000 after buying an additional 5,029,627 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of ConocoPhillips by 1,125.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,210,409 shares of the energy producer’s stock valued at $110,902,000 after buying an additional 2,030,017 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of ConocoPhillips by 3.3% in the fourth quarter. State Street Corp now owns 62,935,763 shares of the energy producer’s stock valued at $3,155,606,000 after buying an additional 1,984,973 shares in the last quarter. Institutional investors own 68.04% of the company’s stock.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Shares of ConocoPhillips (NYSE COP) opened at 46.36 on Tuesday. The company’s market capitalization is $57.35 billion. The stock’s 50 day moving average is $45.98 and its 200 day moving average is $48.17. ConocoPhillips has a 12 month low of $38.80 and a 12 month high of $53.17.

ConocoPhillips (NYSE:COP) last posted its earnings results on Tuesday, May 2nd. The energy producer reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.05. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.47 billion. ConocoPhillips had a negative net margin of 5.05% and a negative return on equity of 5.92%. During the same quarter in the prior year, the firm earned ($0.95) earnings per share. On average, equities analysts predict that ConocoPhillips will post $0.53 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, May 11th. ConocoPhillips’s dividend payout ratio is presently -95.50%.

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COP has been the topic of several research reports. Cowen and Company restated a “buy” rating on shares of ConocoPhillips in a report on Friday, April 14th. Scotiabank set a $53.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Monday, March 27th. TheStreet upgraded shares of ConocoPhillips from a “d+” rating to a “c” rating in a report on Monday, March 6th. Guggenheim initiated coverage on shares of ConocoPhillips in a report on Tuesday, April 18th. They issued a “neutral” rating on the stock. Finally, Jefferies Group LLC upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and raised their target price for the stock from $55.00 to $59.00 in a report on Wednesday, May 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $56.92.

In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $47.47, for a total transaction of $431,549.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “COP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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