Ensign Peak Advisors Inc Lowers Stock Position in ConocoPhillips (NYSE:COP)

Ensign Peak Advisors Inc lowered its position in ConocoPhillips (NYSE:COP) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,302,694 shares of the energy producer’s stock after selling 110,042 shares during the quarter. Ensign Peak Advisors Inc owned 0.20% of ConocoPhillips worth $228,358,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in ConocoPhillips by 2.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer’s stock worth $155,211,000 after purchasing an additional 32,948 shares during the period. CWA Asset Management Group LLC boosted its position in shares of ConocoPhillips by 9.2% in the fourth quarter. CWA Asset Management Group LLC now owns 3,498 shares of the energy producer’s stock worth $347,000 after buying an additional 294 shares during the period. Diversified Trust Co raised its holdings in shares of ConocoPhillips by 19.7% during the 4th quarter. Diversified Trust Co now owns 11,833 shares of the energy producer’s stock valued at $1,173,000 after buying an additional 1,945 shares during the period. Fortitude Family Office LLC lifted its position in ConocoPhillips by 11.1% during the 4th quarter. Fortitude Family Office LLC now owns 1,655 shares of the energy producer’s stock worth $164,000 after acquiring an additional 166 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in ConocoPhillips by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 168,719 shares of the energy producer’s stock worth $17,763,000 after acquiring an additional 1,838 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.4 %

Shares of ConocoPhillips stock opened at $88.97 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $124.23. The stock has a market capitalization of $112.47 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.79 and a beta of 0.64. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The business’s 50 day simple moving average is $93.12 and its 200-day simple moving average is $99.55.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. Equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent research reports. Barclays reduced their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Royal Bank of Canada dropped their target price on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. TD Cowen started coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Susquehanna set a $136.00 price objective on ConocoPhillips in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.79.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.