Montchanin Asset Management LLC Acquires Shares of 8,215 ConocoPhillips $COP

Montchanin Asset Management LLC bought a new position in ConocoPhillips (NYSE:COP) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,215 shares of the energy producer’s stock, valued at approximately $1,084,000. ConocoPhillips makes up about 1.1% of Montchanin Asset Management LLC’s holdings, making the stock its 21st biggest holding.

A number of other institutional investors also recently modified their holdings of the stock. Capital International Investors grew its stake in ConocoPhillips by 5.9% in the fourth 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. AQR Capital Management LLC increased its position in ConocoPhillips by 229.2% in the 4th quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock worth $336,544,000 after purchasing an additional 2,503,156 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of ConocoPhillips by 207.9% during the 1st quarter. Janus Henderson Group PLC now owns 3,697,232 shares of the energy producer’s stock worth $488,030,000 after purchasing an additional 2,496,606 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of 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 purchasing an additional 2,350,645 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of ConocoPhillips by 46,105.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,310,281 shares of the energy producer’s stock valued at $304,957,000 after buying an additional 2,305,281 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several recent research reports. BMO Capital Markets lowered their price target on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Freedom Capital lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Wolfe Research lifted their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Morgan Stanley decreased their target price 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $134.16.

ConocoPhillips Stock Performance

COP opened at $120.57 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The company has a market cap of $146.89 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.44 and a beta of 0.12. The stock has a 50-day moving average of $112.98 and a 200-day moving average of $114.93. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87.

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

ConocoPhillips 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.