Juncture Wealth Strategies LLC Reduces Stake in ConocoPhillips (COP)

Juncture Wealth Strategies LLC decreased its position in ConocoPhillips (NYSE:COP) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,100 shares of the energy producer’s stock after selling 100 shares during the period. Juncture Wealth Strategies LLC’s holdings in ConocoPhillips were worth $576,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after buying an additional 9,200,014 shares during the last quarter. FMR LLC boosted its stake in ConocoPhillips by 6.9% in 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. State Street Corp boosted its stake in ConocoPhillips by 3.9% in the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock worth $3,260,918,000 after buying an additional 2,452,533 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in ConocoPhillips by 21.0% in the first quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock worth $501,966,000 after buying an additional 1,744,860 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in ConocoPhillips by 74.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 2,345,000 shares of the energy producer’s stock worth $116,945,000 after buying an additional 1,000,000 shares during the last quarter. 68.84% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips (NYSE COP) traded down 1.0854% during midday trading on Thursday, hitting $45.1545. The stock had a trading volume of 2,415,845 shares. ConocoPhillips has a 1-year low of $39.00 and a 1-year high of $53.17. The stock’s market capitalization is $54.95 billion. The stock’s 50-day moving average is $44.17 and its 200-day moving average is $46.54.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. The business had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter in the prior year, the company posted ($0.79) earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post $0.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, July 24th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $1.06 annualized dividend and a yield of 2.32%. ConocoPhillips’s dividend payout ratio (DPR) is currently -34.98%.

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COP has been the subject of a number of research reports. BidaskClub cut ConocoPhillips from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Cowen and Company reissued a “buy” rating on shares of ConocoPhillips in a research note on Friday, April 14th. Royal Bank Of Canada set a $62.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research note on Sunday, July 16th. Citigroup Inc. lowered their target price on ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Finally, Sanford C. Bernstein cut 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 research note on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $55.18.

In related news, VP James D. Mcmorran sold 9,091 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $47.47, for a total transaction of $431,549.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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