Ingalls & Snyder LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 4.6% in the fourth quarter, according to the company in its most recent 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 period. Ingalls & Snyder LLC’s holdings in ConocoPhillips were worth $3,036,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC lifted its holdings in ConocoPhillips by 12,704.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,385,725 shares of the energy producer’s stock valued at $389,529,000 after buying an additional 6,335,852 shares in the last quarter. BlackRock Inc. raised its holdings in shares of ConocoPhillips by 4.0% in the 2nd 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 in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $82,616,000. Boston Partners raised its holdings in shares of ConocoPhillips by 19.9% in the 3rd 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 in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in shares of ConocoPhillips by 90.5% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 2,447,473 shares of the energy producer’s stock valued at $149,297,000 after purchasing an additional 1,162,943 shares in the last quarter. 71.63% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on the stock. Robert W. Baird assumed coverage on shares of ConocoPhillips in a report on Tuesday. They issued an “outperform” rating and a $72.00 price target for the company. Susquehanna Bancshares assumed coverage on shares of ConocoPhillips in a report on Tuesday. They issued a “positive” rating and a $80.00 price target for the company. Atlantic Securities assumed coverage on shares of ConocoPhillips in a report on Friday, December 13th. They issued an “overweight” rating and a $75.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of ConocoPhillips from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, MKM Partners assumed coverage on shares of ConocoPhillips in a report on Thursday, December 5th. They issued a “buy” rating and a $72.00 price target for the company. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently 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 ConocoPhillips stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $63.17, for a total value of $1,618,920.76. Following the transaction, the president now owns 32,926 shares of the company’s stock, valued at approximately $2,079,935.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by insiders.
Shares of ConocoPhillips stock opened at $65.00 on Thursday. The firm’s 50 day moving average price is $63.46 and its 200-day moving average price is $58.50. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.42. ConocoPhillips has a 52-week low of $50.13 and a 52-week high of $71.01. The company has a market cap of $71.48 billion, a P/E ratio of 14.35, a PEG ratio of 2.14 and a beta of 1.13.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, October 29th. The energy producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. The firm had revenue of $10.09 billion for the quarter, compared to the consensus estimate of $7.06 billion. During the same quarter in the previous year, the firm earned $1.36 EPS. As a group, equities research analysts forecast 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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