Wealthcare Advisory Partners LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,135 shares of the energy producer’s stock, valued at approximately $307,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Financial Management Professionals Inc. increased its position 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 buying an additional 6 shares during the period. WFG Advisors LP increased its position in shares of ConocoPhillips by 0.4% during the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after buying an additional 39 shares during the period. Genesee Valley Trust Co. increased its position in shares of ConocoPhillips by 0.6% during the second quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock valued at $312,000 after buying an additional 45 shares during the period. Girard Partners LTD. increased its position in shares of ConocoPhillips by 0.6% during the second quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock valued at $371,000 after buying an additional 49 shares during the period. Finally, First City Capital Management Inc. increased its position in shares of ConocoPhillips by 1.4% during the second quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock valued at $240,000 after buying an additional 75 shares during the period. Institutional investors own 69.73% of the company’s stock.
In other news, Director Charles E. Bunch purchased 2,000 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were purchased at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the acquisition, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) opened at $59.76 on Friday. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week 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. The company has a market cap of $71,440.00, a P/E ratio of -30.03, a PEG ratio of 2.59 and a beta of 1.26.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the company posted ($0.66) earnings per share. sell-side analysts forecast that ConocoPhillips will post 0.57 EPS for the current year.
A number of equities research analysts have weighed in on the stock. Cowen restated a “buy” rating and issued a $70.00 price objective on shares of ConocoPhillips in a report on Thursday. Macquarie assumed coverage on shares of ConocoPhillips in a report on Wednesday. They issued an “outperform” rating on the stock. 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, January 10th. Howard Weil cut 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. Finally, Royal Bank of Canada set a $61.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $56.35.
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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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