CenturyLink Investment Management Co cut its stake in shares of ConocoPhillips (NYSE:COP) by 18.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,408 shares of the energy producer’s stock after selling 7,044 shares during the quarter. ConocoPhillips comprises approximately 0.8% of CenturyLink Investment Management Co’s investment portfolio, making the stock its 24th biggest holding. CenturyLink Investment Management Co’s holdings in ConocoPhillips were worth $2,187,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Clarus Wealth Advisors purchased a new stake in ConocoPhillips in the second quarter valued at $170,000. Avalon Advisors LLC boosted its holdings in ConocoPhillips by 35.4% in the first quarter. Avalon Advisors LLC now owns 280,157 shares of the energy producer’s stock valued at $16,610,000 after purchasing an additional 73,188 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth about $230,000. Cynosure Advisors LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth about $1,508,000. Finally, HighPoint Advisor Group LLC boosted its stake in shares of ConocoPhillips by 9.8% during the 1st quarter. HighPoint Advisor Group LLC now owns 9,228 shares of the energy producer’s stock worth $641,000 after acquiring an additional 824 shares in the last quarter. 70.88% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of ConocoPhillips from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 9th. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Thursday, April 19th. Mizuho assumed coverage on shares of ConocoPhillips in a research note on Friday, June 8th. They set a “neutral” rating and a $73.00 target price on the stock. Scotiabank reissued a “buy” rating and set a $64.00 target price on shares of ConocoPhillips in a research note on Monday, April 9th. Finally, Jefferies Financial Group lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating and increased their target price for the stock from $66.42 to $68.00 in a research note on Thursday, April 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $66.90.

COP stock traded down $0.67 during mid-day trading on Thursday, reaching $68.89. The company’s stock had a trading volume of 341,505 shares, compared to its average volume of 7,035,661. The company has a market cap of $81.39 billion, a price-to-earnings ratio of 114.75, a PEG ratio of 1.85 and a beta of 1.22. The company has a current ratio of 1.86, a quick ratio of 1.71 and a debt-to-equity ratio of 0.54. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $71.71.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 26th. The energy producer reported $0.96 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.22. The company had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.68 billion. ConocoPhillips had a negative net margin of 1.64% and a positive return on equity of 6.69%. During the same quarter in the prior year, the firm earned ($0.02) EPS. equities analysts forecast that ConocoPhillips will post 4.17 earnings per share for the current year.

In other news, Director Jody Freeman sold 3,716 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $65.55, for a total transaction of $243,583.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Janet Langford Kelly sold 64,184 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $70.00, for a total transaction of $4,492,880.00. Following the sale, the senior vice president now owns 105,395 shares of the company’s stock, valued at approximately $7,377,650. The disclosure for this sale can be found here. In the last quarter, insiders sold 284,052 shares of company stock valued at $19,491,534. 0.88% of the stock is owned by insiders.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; 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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