Ray Gerald L & Associates Ltd. lowered its holdings in ConocoPhillips (NYSE:COP) by 36.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,414 shares of the energy producer’s stock after selling 4,800 shares during the quarter. Ray Gerald L & Associates Ltd.’s holdings in ConocoPhillips were worth $421,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in ConocoPhillips by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock worth $3,980,473,000 after buying an additional 1,694,618 shares during the period. BlackRock Inc. lifted its holdings in ConocoPhillips by 7.8% in the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after buying an additional 6,197,896 shares during the period. FMR LLC lifted its holdings in ConocoPhillips by 6.9% in the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares during the period. Bank of New York Mellon Corp lifted its holdings 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 worth $693,462,000 after buying an additional 397,339 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of ConocoPhillips by 255.3% in the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after purchasing an additional 9,200,014 shares during the period. Institutional investors and hedge funds own 69.63% of the company’s stock.
A number of research analysts have recently commented on the company. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Wednesday, December 13th. Wells Fargo & Co raised their target price on ConocoPhillips from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Piper Jaffray Companies restated a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research note on Friday, November 3rd. Scotiabank restated a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research note on Wednesday, November 1st. Finally, Royal Bank of Canada restated a “buy” rating and issued a $54.00 target price on shares of ConocoPhillips in a research note on Friday, September 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has assigned 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.
In related 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 price 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 $178,513.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is currently owned by insiders.
Shares of ConocoPhillips (NYSE:COP) traded up $1.53 during trading hours on Thursday, reaching $59.18. The company’s stock had a trading volume of 7,341,782 shares, compared to its average volume of 4,844,573. The stock has a market capitalization of $70,750.00, a PE ratio of -29.74, a price-to-earnings-growth ratio of 2.90 and a beta of 1.26. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $59.48. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. The business had revenue of $7.20 billion during 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 quarter in the previous year, the business earned ($0.66) earnings per share. sell-side analysts predict that ConocoPhillips will post 0.57 EPS 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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