BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $32.43 Million Stake in ConocoPhillips (COP)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in ConocoPhillips (NYSE:COP) by 0.6% during the 3rd quarter, Holdings Channel reports. The firm owned 647,943 shares of the energy producer’s stock after selling 3,798 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in ConocoPhillips were worth $32,430,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Freestone Capital Holdings LLC increased its position in shares of ConocoPhillips by 78.7% in the second quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock worth $354,000 after purchasing an additional 3,543 shares during the last quarter. Point View Wealth Management Inc. increased its position in shares of ConocoPhillips by 19.8% in the second quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock worth $1,448,000 after purchasing an additional 5,452 shares during the last quarter. Toronto Dominion Bank boosted its stake in ConocoPhillips by 16.1% in the second quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock worth $27,092,000 after buying an additional 85,538 shares in the last quarter. Korea Investment CORP boosted its stake in ConocoPhillips by 32.8% in the third quarter. Korea Investment CORP now owns 1,026,000 shares of the energy producer’s stock worth $51,351,000 after buying an additional 253,600 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in ConocoPhillips in the second quarter worth approximately $26,376,000. Institutional investors own 69.63% of the company’s stock.
Several analysts have issued reports on the company. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price for the company in a research note on Wednesday, January 10th. Howard Weil lowered ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price for the company. in a research note on Friday, December 22nd. Royal Bank of Canada set a $61.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Piper Jaffray Companies reaffirmed 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 assumed coverage on ConocoPhillips in a research note on Monday, December 11th. They issued a “neutral” rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $55.47.
In related news, Director Charles E. Bunch acquired 2,000 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was purchased at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the purchase, the director now owns 3,429 shares in the company, valued at approximately $178,513.74. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.
Shares of ConocoPhillips (COP) opened at $60.05 on Monday. The firm has a market capitalization of $71,790.00, a P/E ratio of -30.18, a PEG ratio of 2.79 and a beta of 1.26. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $60.24. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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. The firm had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same quarter in the prior year, the firm posted ($0.66) earnings per share. sell-side analysts forecast that ConocoPhillips will post 0.57 EPS for the current year.
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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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