ConocoPhillips (COP) Position Lifted by Liberty Wealth Management LLC
Liberty Wealth Management LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 115.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,757 shares of the energy producer’s stock after acquiring an additional 2,017 shares during the period. Liberty Wealth Management LLC’s holdings in ConocoPhillips were worth $250,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Lenox Wealth Advisors LLC acquired a new stake in ConocoPhillips in the first quarter valued at $27,000. Smart Portfolios LLC grew its holdings in ConocoPhillips by 69.5% in the fourth quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 196 shares during the last quarter. Athena Capital Advisors LLC acquired a new stake in ConocoPhillips in the fourth quarter valued at $32,000. Clarfeld Financial Advisors LLC acquired a new stake in ConocoPhillips in the fourth quarter valued at $32,000. Finally, Ironwood Financial llc grew its holdings in ConocoPhillips by 294.1% in the fourth quarter. Ironwood Financial llc now owns 536 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 400 shares during the last quarter. 73.59% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on COP shares. Barclays reissued a “buy” rating and issued a $79.00 target price on shares of ConocoPhillips in a report on Friday, January 11th. Goldman Sachs Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price objective for the company from $76.00 to $82.00 in a research note on Sunday, February 3rd. Morgan Stanley set a $77.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, January 29th. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Wednesday, March 13th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating on shares of ConocoPhillips in a research note on Tuesday, February 12th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. ConocoPhillips has an average rating of “Buy” and an average target price of $79.00.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, January 31st. The energy producer reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.08. ConocoPhillips had a return on equity of 16.91% and a net margin of 16.16%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the business posted $0.45 earnings per share. Equities analysts predict that ConocoPhillips will post 3.96 earnings per share for the current fiscal year.
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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