ConocoPhillips (NYSE:COP) Position Cut by TD Asset Management Inc.

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TD Asset Management Inc. decreased its position in shares of ConocoPhillips (NYSE:COP) by 9.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 412,380 shares of the energy producer’s stock after selling 43,388 shares during the period. TD Asset Management Inc.’s holdings in ConocoPhillips were worth $27,522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pineno Levin & Ford Asset Management Inc. lifted its stake in shares of ConocoPhillips by 0.4% during the fourth quarter. Pineno Levin & Ford Asset Management Inc. now owns 37,800 shares of the energy producer’s stock worth $2,357,000 after buying an additional 150 shares during the period. First Commonwealth Financial Corp PA lifted its stake in shares of ConocoPhillips by 2.8% during the fourth quarter. First Commonwealth Financial Corp PA now owns 5,454 shares of the energy producer’s stock worth $340,000 after buying an additional 150 shares during the period. Fishman Jay A Ltd. MI lifted its stake in shares of ConocoPhillips by 0.4% during the fourth quarter. Fishman Jay A Ltd. MI now owns 38,267 shares of the energy producer’s stock worth $2,386,000 after buying an additional 152 shares during the period. Arete Wealth Advisors LLC lifted its stake in shares of ConocoPhillips by 1.5% during the fourth quarter. Arete Wealth Advisors LLC now owns 10,832 shares of the energy producer’s stock worth $675,000 after buying an additional 158 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its position in ConocoPhillips by 0.5% during the first quarter. Farmers & Merchants Investments Inc. now owns 34,226 shares of the energy producer’s stock valued at $2,284,000 after purchasing an additional 160 shares during the period. 72.16% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on COP. ValuEngine downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Thursday, June 6th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $83.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Credit Suisse Group downgraded shares of 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. Piper Jaffray Companies upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $68.00 to $75.00 in a research report on Thursday, March 21st. Finally, Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $78.36.

NYSE:COP opened at $58.73 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. ConocoPhillips has a 1-year low of $56.75 and a 1-year high of $80.24. The stock has a market capitalization of $66.64 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.43 and a beta of 1.03.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, April 30th. The energy producer reported $1.00 EPS for the quarter, topping the consensus estimate of $0.92 by $0.08. ConocoPhillips had a net margin of 18.08% and a return on equity of 16.65%. The firm had revenue of $10.06 billion for the quarter, compared to analyst estimates of $9.16 billion. During the same period in the prior year, the business posted $0.96 EPS. Equities analysts expect that ConocoPhillips will post 4.35 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a dividend of $0.305 per share. The ex-dividend date was Friday, May 10th. This represents a $1.22 dividend on an annualized basis and a yield of 2.08%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.93%.

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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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