DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 3,321 shares of the energy producer’s stock, valued at approximately $207,000.

A number of other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in ConocoPhillips by 54,716.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,236,749 shares of the energy producer’s stock worth $947,125,000 after purchasing an additional 12,214,426 shares during the last quarter. AQR Capital Management LLC boosted its stake in ConocoPhillips by 85.1% during the third quarter. AQR Capital Management LLC now owns 8,596,351 shares of the energy producer’s stock worth $665,357,000 after acquiring an additional 3,951,688 shares in the last quarter. Bank of Montreal Can lifted its position in ConocoPhillips by 101.9% during the third quarter. Bank of Montreal Can now owns 5,825,885 shares of the energy producer’s stock valued at $450,923,000 after purchasing an additional 2,940,689 shares during the period. Capital World Investors increased its holdings in ConocoPhillips by 2.4% during the third quarter. Capital World Investors now owns 65,981,471 shares of the energy producer’s stock valued at $5,106,966,000 after buying an additional 1,571,260 shares during the last quarter. Finally, LSV Asset Management lifted its position in ConocoPhillips by 4,028.4% during the third quarter. LSV Asset Management now owns 1,552,287 shares of the energy producer’s stock valued at $120,147,000 after purchasing an additional 1,514,687 shares during the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Shares of ConocoPhillips stock opened at $67.06 on Friday. The company has a market capitalization of $75.59 billion, a price-to-earnings ratio of 111.77, a P/E/G ratio of 2.06 and a beta of 1.14. ConocoPhillips has a 52 week low of $50.18 and a 52 week high of $80.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.82 and a current ratio of 1.99.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 25th. The energy producer reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.19. The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.48 billion. ConocoPhillips had a return on equity of 14.62% and a net margin of 16.08%. Analysts anticipate that ConocoPhillips will post 4.47 EPS for the current fiscal year.

A number of analysts recently commented on COP shares. Royal Bank of Canada cut shares of ConocoPhillips from an “outperform” rating to a “sector perform” rating and set a $90.00 target price for the company. in a research note on Thursday, September 20th. They noted that the move was a valuation call. Morgan Stanley raised their target price on ConocoPhillips from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, September 26th. Goldman Sachs Group lowered ConocoPhillips from a “buy” rating to a “neutral” rating in a research note on Monday, October 1st. Citigroup lifted their price objective on ConocoPhillips from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, October 5th. Finally, Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Monday, October 8th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $76.12.

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About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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