Ingalls & Snyder LLC lowered its position in ConocoPhillips (NYSE:COP) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,682 shares of the energy producer’s stock after selling 2,254 shares during the quarter. Ingalls & Snyder LLC’s holdings in ConocoPhillips were worth $3,036,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of ConocoPhillips by 0.3% in the second quarter. Vanguard Group Inc. now owns 90,335,159 shares of the energy producer’s stock valued at $5,510,444,000 after purchasing an additional 269,794 shares during the period. BlackRock Inc. grew its holdings in shares of ConocoPhillips by 4.0% in the second quarter. BlackRock Inc. now owns 79,994,496 shares of the energy producer’s stock valued at $4,879,663,000 after purchasing an additional 3,103,095 shares during the period. Macquarie Group Ltd. grew its holdings in shares of ConocoPhillips by 5.7% in the second quarter. Macquarie Group Ltd. now owns 11,246,886 shares of the energy producer’s stock valued at $686,060,000 after purchasing an additional 602,772 shares during the period. Invesco Ltd. grew its holdings in shares of ConocoPhillips by 8.6% in the second quarter. Invesco Ltd. now owns 9,448,755 shares of the energy producer’s stock valued at $576,376,000 after purchasing an additional 749,531 shares during the period. Finally, Boston Partners grew its holdings in shares of ConocoPhillips by 19.9% in the third quarter. Boston Partners now owns 8,235,338 shares of the energy producer’s stock valued at $469,263,000 after purchasing an additional 1,364,667 shares during the period. 71.63% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on COP shares. Robert W. Baird started coverage on shares of ConocoPhillips in a research note on Tuesday. They set an “outperform” rating and a $72.00 target price for the company. ValuEngine raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Atlantic Securities started coverage on shares of ConocoPhillips in a research note on Friday, December 13th. They set an “overweight” rating and a $75.00 target price for the company. MKM Partners started coverage on shares of ConocoPhillips in a research note on Thursday, December 5th. They set a “buy” rating and a $72.00 target price for the company. Finally, Susquehanna Bancshares started coverage on shares of ConocoPhillips in a research note on Tuesday. They set a “positive” rating and a $80.00 target price for the company. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and an average price target of $74.00.
In other news, President William L. Jr. Bullock sold 25,628 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $63.17, for a total transaction of $1,618,920.76. Following the sale, the president now owns 32,926 shares of the company’s stock, valued at $2,079,935.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.
Shares of COP stock opened at $65.00 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.56 and a quick ratio of 2.40. The firm has a market cap of $71.48 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13. The company has a 50-day moving average of $63.46 and a two-hundred day moving average of $58.50. ConocoPhillips has a 1-year low of $50.13 and a 1-year high of $71.01.
ConocoPhillips (NYSE:COP) last announced its earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The company had revenue of $10.09 billion during the quarter, compared to analyst estimates of $7.06 billion. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. During the same quarter last year, the firm posted $1.36 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 3.64 EPS for the current fiscal year.
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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