ConocoPhillips (COP) Holdings Boosted by Financial Counselors Inc.
Financial Counselors Inc. raised its position in ConocoPhillips (NYSE:COP) by 22.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 210,432 shares of the energy producer’s stock after buying an additional 38,811 shares during the quarter. Financial Counselors Inc.’s holdings in ConocoPhillips were worth $10,532,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of ConocoPhillips by 7.8% during the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after purchasing an additional 6,197,896 shares during the last quarter. AJO LP grew its holdings in shares of ConocoPhillips by 3,000.7% during the 2nd quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after purchasing an additional 2,891,652 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of ConocoPhillips by 21.6% during the 2nd quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after purchasing an additional 2,134,292 shares during the last quarter. Brandywine Global Investment Management LLC grew its holdings in shares of ConocoPhillips by 183.5% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 3,138,796 shares of the energy producer’s stock valued at $137,982,000 after purchasing an additional 2,031,830 shares during the last quarter. Finally, Eaton Vance Management grew its holdings in shares of ConocoPhillips by 49.2% during the 2nd quarter. Eaton Vance Management now owns 5,395,400 shares of the energy producer’s stock valued at $237,182,000 after purchasing an additional 1,780,223 shares during the last quarter. 69.63% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on COP shares. Royal Bank of Canada lifted their price target on shares of ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Credit Suisse Group started coverage on shares of ConocoPhillips in a report on Monday, December 11th. They set a “neutral” rating and a $50.00 price target on the stock. Morgan Stanley lifted their price target on shares of ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target on the stock. in a report on Friday, December 22nd. Finally, Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $55.47.
In other news, Director Charles E. Bunch purchased 2,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were purchased at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the transaction, the director now owns 3,429 shares of the company’s stock, valued at $178,513.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.82% of the stock is currently owned by insiders.
ConocoPhillips (NYSE:COP) opened at $60.05 on Friday. The stock has a market cap of $70,750.64, a P/E ratio of -32.46, a PEG ratio of 2.75 and a beta of 1.26. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $60.24. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same quarter in the previous year, the company earned ($0.66) EPS. equities research analysts forecast that ConocoPhillips will post 0.57 earnings per share for the current fiscal year.
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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