Are Institutional Investors Bailing on ConocoPhillips Stock?



ConocoPhillips’s 13F filers’ statistics

In 3Q16, 483 funds were “buyers” of ConocoPhillips’s (COP) stock, and 667 funds were “sellers” of COP. That means, in 3Q16, total selling funds outnumbered total buying funds by 184. As of September 30, 2016, 1,252 13F filers held COP in their portfolio. Out of these, only 19 filers have COP in their top ten holdings.

Even when considered from the aggregate shares point of view, for 3Q16, 13F filers reduced their aggregate COP position by ~1%, or from ~789 million shares to ~783 million shares.

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Notable buyers and sellers

In notable additions, Goldman Sachs Group increased its COP holdings by 66%. In 3Q16, Goldman Sachs Group bought ~3.5 million shares of COP to bring its total COP position to ~8.8 million shares. COP constitutes 0.12% of Goldman Sachs Group’s portfolio.

In notable reductions, Capital Research Global Investors reduced its COP holding by ~36% to ~23.8 million shares from ~37.3 million shares. COP constitutes 0.34% of Capital Research Global Investors’ portfolio.

As of September 30, 2016, ConocoPhillips had ~1,246 million basic shares outstanding. Form 13F is a SEC mandate that must be submitted by all institutional investors who manage more than $100 million in assets.

Other upstream players

In 3Q16, 13F filers reduced their aggregate positions in upstream companies like EOG Resources (EOG), CONSOL Energy (CNX), and Southwestern Energy (SWN). The ETF ISE-Revere Nat Gas Index Fund (FCG) invests in natural gas producers.


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