Foundation Resource Management Inc. reduced its position in shares of ConocoPhillips (NYSE:COP) by 35.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 363,014 shares of the energy producer’s stock after selling 200,980 shares during the quarter. ConocoPhillips comprises approximately 3.6% of Foundation Resource Management Inc.’s holdings, making the stock its 12th largest holding. Foundation Resource Management Inc.’s holdings in ConocoPhillips were worth $19,926,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of ConocoPhillips by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock valued at $3,980,473,000 after acquiring an additional 1,694,618 shares during the last quarter. BlackRock Inc. boosted its position in shares of ConocoPhillips by 7.8% during the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after acquiring an additional 6,197,896 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of ConocoPhillips by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 15,774,835 shares of the energy producer’s stock valued at $693,462,000 after acquiring an additional 397,339 shares during the last quarter. Franklin Resources Inc. lifted its position in ConocoPhillips by 21.6% in the second quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock worth $528,635,000 after buying an additional 2,134,292 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in ConocoPhillips by 3.0% in the third quarter. First Eagle Investment Management LLC now owns 10,608,598 shares of the energy producer’s stock worth $530,960,000 after buying an additional 309,683 shares during the last quarter. Hedge funds and other institutional investors own 69.54% of the company’s stock.
In other ConocoPhillips news, Director Charles E. Bunch bought 2,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was acquired at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the transaction, the director now owns 3,429 shares in the company, valued at $178,513.74. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.82% of the stock is currently owned by company insiders.
A number of analysts recently issued reports on the company. Scotiabank restated a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a research report on Friday, September 29th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price target for the company in a research report on Wednesday, January 10th. Cowen set a $70.00 price target on ConocoPhillips and gave the stock a “buy” rating in a research report on Thursday, January 18th. Barclays restated an “overweight” rating and issued a $55.00 price target (up from $51.00) on shares of ConocoPhillips in a research report on Tuesday, October 10th. Finally, Macquarie assumed coverage on ConocoPhillips in a research report on Wednesday, January 17th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $56.35.
Shares of ConocoPhillips (NYSE COP) opened at $60.67 on Tuesday. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $60.68. The firm has a market capitalization of $71,432.08, a price-to-earnings ratio of -32.79, a PEG ratio of 2.55 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 (NYSE:COP) last released its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The business had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the company earned ($0.66) earnings per share. equities research analysts predict 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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