Bank of Nova Scotia Trust Co. purchased a new position in shares of ConocoPhillips (NYSE:COP) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,985 shares of the energy producer’s stock, valued at approximately $149,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Financial Management Professionals Inc. increased its stake in shares of ConocoPhillips by 0.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after purchasing an additional 6 shares during the last quarter. WFG Advisors LP increased its stake in shares of ConocoPhillips by 0.4% during the 2nd quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock worth $423,000 after purchasing an additional 39 shares during the last quarter. Genesee Valley Trust Co. increased its stake in shares of ConocoPhillips by 0.6% during the 2nd quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock worth $312,000 after purchasing an additional 45 shares during the last quarter. Girard Partners LTD. increased its stake in shares of ConocoPhillips by 0.6% during the 2nd quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock worth $371,000 after purchasing an additional 49 shares during the last quarter. Finally, First City Capital Management Inc. increased its stake in shares of ConocoPhillips by 1.4% during the 2nd quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock worth $240,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 69.73% of the company’s stock.

Shares of ConocoPhillips (NYSE COP) opened at $58.84 on Wednesday. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $60.24. The firm has a market cap of $70,340.00, a price-to-earnings ratio of -29.57, a price-to-earnings-growth ratio of 2.73 and a beta of 1.26.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The firm had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the firm earned ($0.66) EPS. equities research analysts predict that ConocoPhillips will post 0.57 earnings per share for the current year.

In related news, Director Charles E. Bunch purchased 2,000 shares of ConocoPhillips stock in a transaction on Monday, December 11th. The stock was purchased at an average cost of $52.06 per share, with a total value of $104,120.00. Following the acquisition, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is owned by corporate insiders.

A number of research firms recently issued reports on COP. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price on the stock in a research note on Wednesday, January 10th. Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price on the stock. in a research note on Friday, December 22nd. Royal Bank of Canada set a $61.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Wednesday, December 20th. Piper Jaffray Companies reiterated a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research note on Friday, November 3rd. Finally, Credit Suisse Group began coverage on shares of ConocoPhillips in a research note on Monday, December 11th. They issued a “neutral” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company 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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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