Glenmede Trust Co. NA Decreases Stock Position in ConocoPhillips $COP

Glenmede Trust Co. NA decreased its position in ConocoPhillips (NYSE:COP) by 6.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,582 shares of the energy producer’s stock after selling 17,801 shares during the quarter. Glenmede Trust Co. NA’s holdings in ConocoPhillips were worth $34,001,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of ConocoPhillips by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock worth $11,256,713,000 after purchasing an additional 408,304 shares in the last quarter. Capital International Investors grew its holdings in ConocoPhillips by 5.9% during the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after purchasing an additional 2,714,663 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in ConocoPhillips by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after buying an additional 2,350,645 shares during the period. Franklin Resources Inc. increased its stake in ConocoPhillips by 4.5% during the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock worth $1,407,770,000 after buying an additional 648,432 shares during the period. Finally, Fisher Asset Management LLC increased its stake in ConocoPhillips by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock worth $1,389,862,000 after buying an additional 193,401 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.3%

NYSE COP opened at $120.57 on Friday. The company has a market capitalization of $146.89 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.45 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The company’s fifty day moving average price is $112.98 and its two-hundred day moving average price is $114.93.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The company 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 company’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 EPS. As a group, research analysts predict that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COP. Morgan Stanley decreased their price objective on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $124.00 to $130.00 in a research report on Monday, June 22nd. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a research note on Monday, June 22nd. Argus increased their price target on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Raymond James Financial lowered their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.16.

ConocoPhillips Company Profile

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.