ConocoPhillips (COP) Holdings Maintained by Novare Capital Management LLC
Novare Capital Management LLC maintained its position in shares of ConocoPhillips (NYSE:COP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,660 shares of the energy producer’s stock at the close of the second quarter. Novare Capital Management LLC’s holdings in ConocoPhillips were worth $205,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in COP. State Street Corp lifted its stake in shares of ConocoPhillips by 3.9% in the 1st quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after acquiring an additional 2,452,533 shares during the last quarter. FMR LLC boosted its holdings in ConocoPhillips by 6.9% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after acquiring an additional 3,982,002 shares during the period. Macquarie Group Ltd. boosted its holdings in ConocoPhillips by 1.1% during the 1st quarter. Macquarie Group Ltd. now owns 15,981,830 shares of the energy producer’s stock valued at $797,013,000 after acquiring an additional 176,055 shares during the period. Wellington Management Group LLP grew its position in ConocoPhillips by 255.3% during the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after acquiring an additional 9,200,014 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in ConocoPhillips by 21.0% during the 1st quarter. First Eagle Investment Management LLC now owns 10,065,496 shares of the energy producer’s stock worth $501,966,000 after acquiring an additional 1,744,860 shares during the last quarter. Hedge funds and other institutional investors own 68.90% of the company’s stock.
ConocoPhillips (NYSE:COP) opened at 49.24 on Wednesday. The company’s market capitalization is $59.92 billion. ConocoPhillips has a 52 week low of $40.37 and a 52 week high of $53.17. The company has a 50 day moving average of $45.85 and a 200 day moving average of $45.85.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.16. The firm had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same quarter in the previous year, the firm posted ($0.79) earnings per share. On average, equities analysts forecast that ConocoPhillips will post $0.27 EPS for the current fiscal year.
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A number of equities analysts have commented on the company. BidaskClub raised ConocoPhillips from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reiterated a “buy” rating and issued a $62.00 price objective on shares of ConocoPhillips in a research report on Thursday, June 15th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $52.00 price objective on shares of ConocoPhillips in a research note on Thursday, June 22nd. Scotiabank set a $54.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Saturday, July 1st. Finally, Sanford C. Bernstein cut shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $63.00 to $42.00 in a report on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $54.53.
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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