Wedge Capital Management L L P NC raised its position in shares of ConocoPhillips (NYSE:COP) by 3.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 294,994 shares of the energy producer’s stock after purchasing an additional 10,171 shares during the quarter. Wedge Capital Management L L P NC’s holdings in ConocoPhillips were worth $14,764,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in COP. Wellington Management Group LLP increased its position in ConocoPhillips by 255.3% during the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after acquiring an additional 9,200,014 shares during the last quarter. BlackRock Inc. boosted its stake in shares of ConocoPhillips by 7.8% during the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after purchasing an additional 6,197,896 shares during the period. FMR LLC boosted its stake in shares of ConocoPhillips by 6.9% during the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after purchasing an additional 3,982,002 shares during the period. AJO LP boosted its stake in shares of ConocoPhillips by 3,000.7% during the second quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after purchasing an additional 2,891,652 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of ConocoPhillips by 21.6% during the second quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after purchasing an additional 2,134,292 shares during the period. Institutional investors and hedge funds own 69.63% of the company’s stock.
COP has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Credit Suisse Group initiated coverage on shares of ConocoPhillips in a research report on Monday, December 11th. They set a “neutral” rating and a $50.00 price target for the company. Morgan Stanley increased 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 lowered 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 objective on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.47.
In related news, Director Charles E. Bunch acquired 2,000 shares of the firm’s stock in a transaction dated 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 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 SEC, which can be accessed through this link. Company insiders own 0.82% of the company’s stock.
Shares of ConocoPhillips (NYSE COP) traded up $1.53 on Thursday, hitting $59.18. The company’s stock had a trading volume of 7,324,100 shares, compared to its average volume of 5,530,000. 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 firm has a market cap of $70,750.00, a P/E ratio of -29.74, a PEG ratio of 2.90 and a beta of 1.26. ConocoPhillips has a twelve month low of $42.26 and a twelve month high of $59.48.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted ($0.66) EPS. equities analysts expect that ConocoPhillips will post 0.57 EPS for the current year.
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ConocoPhillips Company Profile
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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