Pinnacle Associates Ltd. lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 5.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 156,388 shares of the energy producer’s stock after selling 8,660 shares during the period. Pinnacle Associates Ltd.’s holdings in ConocoPhillips were worth $7,827,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Financial Management Professionals Inc. lifted its position in ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after acquiring an additional 6 shares during the last quarter. First Command Bank lifted its position in ConocoPhillips by 9.4% during the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after acquiring an additional 199 shares during the last quarter. Krilogy Financial LLC lifted its position in ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after acquiring an additional 782 shares during the last quarter. Clear Perspective Advisors LLC lifted its position in ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Lloyds Banking Group plc acquired a new stake in ConocoPhillips during the second quarter worth approximately $127,000. 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 the stock in a transaction on Monday, December 11th. The stock was acquired at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the transaction, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.82% of the stock is owned by insiders.
COP has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Credit Suisse Group started coverage on shares of ConocoPhillips in a research report on Monday, December 11th. They set a “neutral” rating and a $50.00 price objective for the company. Morgan Stanley lifted their price target on shares of ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Howard Weil downgraded shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target for the company. in a research report on Friday, December 22nd. Finally, Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price target for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $55.47.
Shares of ConocoPhillips (COP) opened at $57.65 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $58.32. The firm has a market cap of $68,920.00, a P/E ratio of -28.97, a PEG ratio of 2.90 and a beta of 1.26.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the business earned ($0.66) earnings per share. analysts predict that ConocoPhillips will post 0.57 EPS for the current 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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