Edgemoor Investment Advisors Inc. acquired a new stake in ConocoPhillips (NYSE:COP) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,108 shares of the energy producer’s stock, valued at approximately $206,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake 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 valued at $3,772,723,000 after acquiring an additional 6,197,896 shares in the last quarter. AJO LP grew its stake in shares of ConocoPhillips by 3,000.7% in the second quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after acquiring an additional 2,891,652 shares in the last quarter. Franklin Resources Inc. grew its stake 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 valued at $528,635,000 after acquiring an additional 2,134,292 shares in the last quarter. Brandywine Global Investment Management LLC grew its stake in shares of ConocoPhillips by 183.5% in the second quarter. Brandywine Global Investment Management LLC now owns 3,138,796 shares of the energy producer’s stock valued at $137,982,000 after acquiring an additional 2,031,830 shares in the last quarter. Finally, Eaton Vance Management grew its stake in shares of ConocoPhillips by 49.2% in the second quarter. Eaton Vance Management now owns 5,395,400 shares of the energy producer’s stock valued at $237,182,000 after acquiring an additional 1,780,223 shares in the last quarter. Hedge funds and other institutional investors own 69.63% of the company’s stock.

In other news, Director Charles E. Bunch acquired 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.82% of the company’s stock.

Shares of ConocoPhillips (NYSE:COP) opened at $56.88 on Monday. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $57.19. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. The firm has a market cap of $68,000.95, a PE ratio of -30.75, a P/E/G ratio of 2.90 and a beta of 1.26.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The business had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the business posted ($0.66) earnings per share. analysts expect that ConocoPhillips will post 0.57 EPS for the current fiscal year.

Several research firms recently commented on COP. Howard Weil downgraded shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target on the stock. in a research note on Friday, December 22nd. Royal Bank of Canada set a $61.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Wednesday, December 20th. Piper Jaffray Companies restated a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a research note on Friday, November 3rd. Zacks Investment Research downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Finally, Credit Suisse Group began coverage on shares of ConocoPhillips in a research note on Monday, December 11th. They issued a “neutral” rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. ConocoPhillips currently has a consensus rating of “Buy” and a consensus price target of $55.41.

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About ConocoPhillips

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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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