ConocoPhillips (COP) Position Trimmed by Welch & Forbes LLC
Welch & Forbes LLC decreased its position in shares of ConocoPhillips (NYSE:COP) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,460 shares of the energy producer’s stock after selling 15,794 shares during the quarter. Welch & Forbes LLC’s holdings in ConocoPhillips were worth $5,329,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of COP. Vanguard Group Inc. lifted its holdings in shares of ConocoPhillips by 1.9% in the second quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock worth $3,980,473,000 after acquiring an additional 1,694,618 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after acquiring an additional 6,197,896 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of ConocoPhillips by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 15,774,835 shares of the energy producer’s stock worth $693,462,000 after acquiring an additional 397,339 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of ConocoPhillips by 21.6% in the second quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock worth $528,635,000 after acquiring an additional 2,134,292 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of ConocoPhillips by 3.0% in the third quarter. First Eagle Investment Management LLC now owns 10,608,598 shares of the energy producer’s stock worth $530,960,000 after acquiring an additional 309,683 shares during the last quarter. 69.63% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on COP. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price for the company in a report on Wednesday. Howard Weil cut shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price for the company. in a report on Friday, December 22nd. Royal Bank of Canada set a $61.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Wednesday, December 20th. Goldman Sachs Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Wednesday, December 13th. Finally, Credit Suisse Group began coverage on shares of ConocoPhillips in a report on Monday, December 11th. They issued a “neutral” rating and a $50.00 target price for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. ConocoPhillips has an average rating of “Buy” and a consensus target price of $55.47.
ConocoPhillips (COP) opened at $59.18 on Friday. The stock has a market cap of $70,750.00, a P/E ratio of -29.74, a P/E/G ratio of 2.90 and a beta of 1.26. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $59.48. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $7.20 billion during the quarter, compared to analyst estimates 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 last year, the business earned ($0.66) EPS. equities analysts expect that ConocoPhillips will post 0.57 earnings per share for the current year.
In other news, Director Charles E. Bunch bought 2,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was acquired at an average price of $52.06 per share, with a total value of $104,120.00. Following the transaction, the director now owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.82% of the company’s stock.
ConocoPhillips Company Profile
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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