Twin Capital Management Inc. Acquires Shares of 123,650 ConocoPhillips (COP)
Twin Capital Management Inc. bought a new position in shares of ConocoPhillips (NYSE:COP) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 123,650 shares of the energy producer’s stock, valued at approximately $6,189,000.
Several other institutional investors have also recently made changes to their positions in COP. Vanguard Group Inc. increased its position in ConocoPhillips by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock valued at $3,980,473,000 after acquiring an additional 1,694,618 shares in the last quarter. BlackRock Inc. increased its position in ConocoPhillips by 7.8% in the 2nd 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. Bank of New York Mellon Corp increased its position in ConocoPhillips by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 15,774,835 shares of the energy producer’s stock valued at $693,462,000 after acquiring an additional 397,339 shares in the last quarter. Franklin Resources Inc. increased its position in ConocoPhillips by 21.6% in the 2nd 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. Finally, First Eagle Investment Management LLC increased its position in ConocoPhillips by 3.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 10,608,598 shares of the energy producer’s stock valued at $530,960,000 after acquiring an additional 309,683 shares in the last quarter. Institutional investors and hedge funds own 69.63% of the company’s stock.
In other news, Director Charles E. Bunch acquired 2,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, December 11th. The shares were acquired at an average price of $52.06 per share, with a total value of $104,120.00. Following the purchase, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by company insiders.
COP has been the subject of several research reports. Barclays raised their price objective on shares of ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Friday, October 27th. Royal Bank of Canada raised their price objective on shares of ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Zacks Investment Research cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Scotiabank restated a “buy” rating and issued a $53.00 price objective on shares of ConocoPhillips in a research report on Wednesday, November 1st. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of ConocoPhillips in a research report on Saturday, September 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $55.41.
ConocoPhillips (COP) opened at $57.46 on Tuesday. ConocoPhillips has a one year low of $42.26 and a one year high of $57.46. The firm has a market cap of $68,690.00, a P/E ratio of -28.87, a P/E/G ratio of 2.90 and a beta of 1.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the 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 for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the firm earned ($0.66) EPS. analysts forecast that ConocoPhillips will post 0.57 earnings per share for the current fiscal year.
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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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