Gabelli Funds LLC increased its position in ConocoPhillips (NYSE:COP) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 835,800 shares of the energy producer’s stock after purchasing an additional 5,000 shares during the period. Gabelli Funds LLC owned approximately 0.07% of ConocoPhillips worth $41,832,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in COP. Financial Management Professionals Inc. increased its holdings in ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after acquiring an additional 6 shares in the last quarter. First Command Bank increased its holdings in ConocoPhillips by 9.4% in the 2nd quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after acquiring an additional 199 shares in the last quarter. Krilogy Financial LLC increased its holdings in ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after acquiring an additional 782 shares in the last quarter. Westside Investment Management Inc. increased its holdings in ConocoPhillips by 468.4% in the 1st quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock worth $119,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Massey Quick & Co. LLC purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $123,000. Institutional investors own 69.63% of the company’s stock.
In related news, Director Charles E. Bunch bought 2,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were bought at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the purchase, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by insiders.
Shares of ConocoPhillips (COP) traded up $0.87 during trading on Friday, hitting $60.05. The stock had a trading volume of 6,742,061 shares, compared to its average volume of 5,550,000. The stock has a market capitalization of $71,790.00, a price-to-earnings ratio of -30.18, a P/E/G ratio of 2.75 and a beta of 1.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $60.24.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the firm posted ($0.66) earnings per share. research analysts forecast that ConocoPhillips will post 0.57 earnings per share for the current year.
A number of equities research analysts have issued reports on COP shares. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective for the company in a report on Wednesday. Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective for the company. in a report on Friday, December 22nd. Royal Bank of Canada set a $61.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Wednesday, December 20th. Goldman Sachs Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Wednesday, December 13th. Finally, Credit Suisse Group began coverage on ConocoPhillips in a research report on Monday, December 11th. They set a “neutral” rating and a $50.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $55.47.
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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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