Investment Centers of America Inc. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 17.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,238 shares of the energy producer’s stock after selling 5,344 shares during the quarter. Investment Centers of America Inc.’s holdings in ConocoPhillips were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Freestone Capital Holdings LLC grew its position in shares of ConocoPhillips by 78.7% during the second quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock worth $354,000 after buying an additional 3,543 shares in the last quarter. Point View Wealth Management Inc. boosted its holdings in ConocoPhillips by 19.8% in the second quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock worth $1,448,000 after purchasing an additional 5,452 shares during the period. Toronto Dominion Bank boosted its holdings in ConocoPhillips by 16.1% in the second quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock worth $27,092,000 after purchasing an additional 85,538 shares during the period. Korea Investment CORP boosted its holdings in ConocoPhillips by 32.8% in the third quarter. Korea Investment CORP now owns 1,026,000 shares of the energy producer’s stock worth $51,351,000 after purchasing an additional 253,600 shares during the period. Finally, MUFG Securities EMEA plc acquired a new position in ConocoPhillips in the second quarter worth $26,376,000. 69.63% of the stock is owned by institutional investors and hedge funds.
In related news, Director Charles E. Bunch bought 2,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were bought at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the purchase, the director now owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.82% of the company’s stock.
Shares of ConocoPhillips (COP) opened at $57.93 on Wednesday. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $69,260.00, a price-to-earnings ratio of -29.11, a price-to-earnings-growth ratio of 2.90 and a beta of 1.26. ConocoPhillips has a one year low of $42.26 and a one year high of $58.32.
ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same period last year, the business posted ($0.66) earnings per share. equities research analysts anticipate that ConocoPhillips will post 0.57 EPS for the current fiscal year.
A number of equities analysts have commented on COP shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of ConocoPhillips in a report on Saturday, September 16th. Goldman Sachs Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Wednesday, December 13th. Credit Suisse Group started coverage on shares of ConocoPhillips in a report on Monday, December 11th. They issued a “neutral” rating and a $50.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Finally, Howard Weil downgraded shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective for the company. in a report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $55.41.
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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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