Flippin Bruce & Porter Inc. reduced its position in ConocoPhillips (NYSE:COP) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 195,924 shares of the energy producer’s stock after selling 3,595 shares during the quarter. ConocoPhillips makes up about 2.2% of Flippin Bruce & Porter Inc.’s investment portfolio, making the stock its 12th biggest holding. Flippin Bruce & Porter Inc.’s holdings in ConocoPhillips were worth $9,806,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Massey Quick & Co. LLC acquired a new position in shares of ConocoPhillips during the first quarter worth approximately $123,000. HCR Wealth Advisors boosted its position in shares of ConocoPhillips by 13.2% during the first quarter. HCR Wealth Advisors now owns 18,679 shares of the energy producer’s stock worth $931,000 after buying an additional 2,174 shares during the period. Principal Financial Group Inc. boosted its position in shares of ConocoPhillips by 2.2% during the first quarter. Principal Financial Group Inc. now owns 1,761,900 shares of the energy producer’s stock worth $87,866,000 after buying an additional 38,271 shares during the period. Wellington Management Group LLP boosted its position in shares of ConocoPhillips by 255.3% during the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after buying an additional 9,200,014 shares during the period. Finally, FMR LLC boosted its position 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 worth $3,066,900,000 after buying an additional 3,982,002 shares during the period. 69.63% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a report on Wednesday. Howard Weil downgraded shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price on the stock. in a research note on Friday, December 22nd. Royal Bank of Canada set a $61.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Wednesday, December 20th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a research note on Friday, November 3rd. Finally, Credit Suisse Group assumed coverage on shares of ConocoPhillips in a research note on Monday, December 11th. They issued a “neutral” rating and a $50.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $55.47.
Shares of ConocoPhillips (NYSE:COP) opened at $60.05 on Friday. 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. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $60.24.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the business posted ($0.66) earnings per share. equities research analysts forecast that ConocoPhillips will post 0.57 EPS for the current year.
In other ConocoPhillips news, Director Charles E. Bunch acquired 2,000 shares of ConocoPhillips stock in a transaction on Monday, December 11th. The shares were purchased at an average cost of $52.06 per share, with a total value of $104,120.00. Following the completion of the purchase, the director now owns 3,429 shares in the company, valued at $178,513.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.82% of the stock is currently owned by company insiders.
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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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