Are Institutional Investors Bailing on ConocoPhillips Stock?
13F filers’ statistics for COP
In 2Q17, 493 funds were buyers of ConocoPhillips (COP) stock, while 708 funds were sellers of the stock. That means that in 2Q17, COP’s total selling funds outnumbered its total buying funds by 215.
As of June 30, 2017, 1,262 13F filers held COP stock in their portfolios, of which 11 filers have COP in their top ten holdings.
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However, when we look at the aggregate number of shares, for 2Q17, 13F filers have increased their aggregate COP holdings by 0.49%, or from ~834.04 million shares to ~838.17 million shares.
As of June 30, 2017, ConocoPhillips had ~1.2 billion common shares outstanding.
Form 13F is an SEC (US Securities and Exchange Commission) mandate that needs to be submitted by all institutional investors who manage more than $100 million in assets. In 2Q17, 13F filers increased their aggregate holdings in several oil and gas production companies operating in the Permian Basin. These included Diamondback Energy (FANG), RSP Permian (RSPP), and Energen (EGN), which saw rises of ~5.3%, ~11.8%, and 8.8%, respectively, in 13F filers.
To know more about why institutional investors are upbeat on crude oil (USO) and natural gas (UNG) producers located in the Permian Basin, read Market Realist’s series The Dirt on the Permian Basin: Hot or Not?