American Century Companies Inc. raised its position in shares of ConocoPhillips (NYSE:COP) by 33.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,511,963 shares of the energy producer’s stock after buying an additional 376,054 shares during the quarter. American Century Companies Inc. owned about 0.12% of ConocoPhillips worth $75,674,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. increased its holdings in shares of ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 6 shares in the last quarter. First Command Bank increased its holdings in shares of ConocoPhillips by 9.4% during the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after acquiring an additional 199 shares in the last quarter. Krilogy Financial LLC increased its holdings in shares of ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after acquiring an additional 782 shares in the last quarter. Westside Investment Management Inc. increased its holdings in shares of ConocoPhillips by 468.4% during the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Massey Quick & Co. LLC acquired a new position in shares of ConocoPhillips during the first quarter valued at about $123,000. 69.63% of the stock is owned by institutional investors and hedge funds.
COP has been the topic of several recent analyst reports. JPMorgan Chase & Co. restated an “overweight” rating on shares of ConocoPhillips in a report on Saturday, September 16th. Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Wednesday, December 13th. Credit Suisse Group initiated coverage on shares of ConocoPhillips in a report on Monday, December 11th. They set a “neutral” rating and a $50.00 price objective on the stock. Royal Bank of Canada upped their price objective on shares of ConocoPhillips from $58.00 to $60.00 and gave the company 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 on the stock. in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $55.47.
In other news, Director Charles E. Bunch acquired 2,000 shares of the company’s stock in a transaction dated 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.82% of the stock is owned by company insiders.
Shares of ConocoPhillips (NYSE:COP) traded up $0.87 during trading hours on Friday, reaching $60.05. 6,733,800 shares of the company traded hands, compared to its average volume of 5,550,000. The firm has a market cap of $71,790.00, a P/E ratio of -30.18, a PEG ratio of 2.75 and a beta of 1.26. ConocoPhillips has a one year low of $42.26 and a one year high of $60.24. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same quarter last year, the company earned ($0.66) EPS. research analysts anticipate 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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