Entropy Technologies LP Sells 153,373 Shares of ConocoPhillips $COP

Entropy Technologies LP lessened its stake in ConocoPhillips (NYSE:COP) by 97.1% in the first quarter, HoldingsChannel reports. The firm owned 4,590 shares of the energy producer’s stock after selling 153,373 shares during the period. Entropy Technologies LP’s holdings in ConocoPhillips were worth $606,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Frazier Financial Advisors LLC grew its position in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after buying an additional 145 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of ConocoPhillips during the fourth quarter worth about $25,000. Evergreen Advisors LLC purchased a new stake in ConocoPhillips during the 1st quarter valued at approximately $36,000. Strive Asset Management LLC purchased a new position in ConocoPhillips during the third quarter valued at $28,000. Finally, Avalon Trust Co purchased a new position in shares of ConocoPhillips during the first quarter valued at about $40,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 3.6%

NYSE COP opened at $118.17 on Thursday. The company has a fifty day simple moving average of $113.01 and a two-hundred day simple moving average of $114.74. The stock has a market cap of $143.97 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.38 and a beta of 0.12. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 earnings per share. On average, analysts forecast that ConocoPhillips will post 9.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on COP shares. Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Scotiabank upped their target price on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Barclays upped their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Sanford C. Bernstein lifted their target price on ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Finally, UBS Group lowered their price target on shares of ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $134.16.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.