Sumitomo Life Insurance Co. Has $1.45 Million Stake in ConocoPhillips (NYSE:COP)

Sumitomo Life Insurance Co. trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 46.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,586 shares of the energy producer’s stock after selling 12,624 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in ConocoPhillips were worth $1,446,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Advisory Alpha LLC boosted its holdings in shares of ConocoPhillips by 5.2% in the 2nd quarter. Advisory Alpha LLC now owns 9,042 shares of the energy producer’s stock valued at $1,034,000 after purchasing an additional 444 shares in the last quarter. Cetera Investment Advisers increased its holdings in ConocoPhillips by 7.4% in the second quarter. Cetera Investment Advisers now owns 308,413 shares of the energy producer’s stock valued at $35,276,000 after purchasing an additional 21,286 shares during the period. Ariadne Wealth Management LP bought a new position in shares of ConocoPhillips during the second quarter worth about $120,000. New Century Financial Group LLC acquired a new stake in shares of ConocoPhillips during the second quarter worth $383,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of ConocoPhillips in the 2nd quarter worth about $59,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE COP opened at $101.49 on Thursday. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The stock has a market capitalization of $116.81 billion, a PE ratio of 12.07, a P/E/G ratio of 0.86 and a beta of 1.19. The company’s 50 day simple moving average is $102.53 and its two-hundred day simple moving average is $106.90.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 earnings per share. Analysts predict that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COP shares. Raymond James raised their price target on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. TD Cowen initiated coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Finally, Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $135.89.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.