Barometer Capital Management Inc. bought a new stake in ConocoPhillips (NYSE:COP) during the first quarter, HoldingsChannel reports. The institutional investor bought 6,000 shares of the energy producer’s stock, valued at approximately $400,000.

Other hedge funds have also recently bought and sold shares of the company. Lenox Wealth Advisors LLC bought a new position in ConocoPhillips in the first quarter valued at about $27,000. Smart Portfolios LLC raised its stake in shares of ConocoPhillips by 69.5% in the fourth quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock worth $30,000 after buying an additional 196 shares during the period. Athena Capital Advisors LLC bought a new position in shares of ConocoPhillips in the fourth quarter worth about $32,000. Clarfeld Financial Advisors LLC bought a new position in shares of ConocoPhillips in the fourth quarter worth about $32,000. Finally, Ironwood Financial llc raised its stake in shares of ConocoPhillips by 294.1% in the fourth quarter. Ironwood Financial llc now owns 536 shares of the energy producer’s stock worth $33,000 after buying an additional 400 shares during the period. 73.59% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on COP shares. Zacks Investment Research downgraded ConocoPhillips from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 3rd. Bank of America downgraded ConocoPhillips from a “buy” rating to a “neutral” rating and set a $75.00 price objective on the stock. in a research note on Friday, January 4th. Barclays reaffirmed a “buy” rating and issued a $79.00 price objective on shares of ConocoPhillips in a research note on Friday, January 11th. Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $76.00 to $82.00 in a research note on Sunday, February 3rd. Finally, Piper Jaffray Companies raised ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $68.00 to $75.00 in a research note on Thursday, March 21st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. ConocoPhillips currently has a consensus rating of “Buy” and an average price target of $79.00.

NYSE:COP opened at $65.90 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.79 and a quick ratio of 1.66. ConocoPhillips has a 12-month low of $56.75 and a 12-month high of $80.24. The stock has a market cap of $74.76 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 1.67 and a beta of 1.11.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, January 31st. The energy producer reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.60 billion. ConocoPhillips had a return on equity of 16.91% and a net margin of 16.16%. During the same quarter last year, the business posted $0.45 EPS. As a group, research analysts anticipate that ConocoPhillips will post 3.96 EPS for the current year.

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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. 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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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