Jones Financial Companies Lllp grew its stake in ConocoPhillips (NYSE:COP) by 13.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,055 shares of the energy producer’s stock after acquiring an additional 1,892 shares during the period. Jones Financial Companies Lllp’s holdings in ConocoPhillips were worth $881,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in COP. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of ConocoPhillips by 468.8% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after purchasing an additional 1,500 shares in the last quarter. Krilogy Financial LLC raised its position in ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after acquiring an additional 782 shares in the last quarter. Rocky Mountain Advisers LLC raised its position in ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after acquiring an additional 1,396 shares in the last quarter. Clear Perspective Advisors LLC raised its position in ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Truewealth LLC bought a new stake in ConocoPhillips during the fourth quarter worth $138,000. 71.15% of the stock is owned by institutional investors.
NYSE:COP opened at $59.26 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.76 and a debt-to-equity ratio of 0.56. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $61.31. The company has a market capitalization of $69,957.87, a P/E ratio of 98.77, a PEG ratio of 1.76 and a beta of 1.23.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The company had revenue of $8.74 billion during the quarter, compared to the consensus estimate of $7.70 billion. ConocoPhillips had a positive return on equity of 2.81% and a negative net margin of 2.04%. During the same quarter in the prior year, the company earned ($0.26) earnings per share. equities analysts forecast that ConocoPhillips will post 2.91 EPS for the current fiscal year.
ConocoPhillips announced that its board has approved a stock repurchase plan on Thursday, February 1st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the energy producer to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, SVP Andrew D. Lundquist sold 25,000 shares of the stock in a transaction on Thursday, March 29th. The stock was sold at an average price of $58.96, for a total value of $1,474,000.00. Following the sale, the senior vice president now directly owns 27,353 shares of the company’s stock, valued at $1,612,732.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.82% of the company’s stock.
Several research firms have commented on COP. Piper Jaffray reiterated a “buy” rating and issued a $63.00 price objective on shares of ConocoPhillips in a report on Wednesday, January 24th. Morgan Stanley increased their price objective on shares of ConocoPhillips from $48.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Macquarie started coverage on shares of ConocoPhillips in a research note on Wednesday, January 17th. They set an “outperform” rating on the stock. Cowen set a $70.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Barclays raised their price objective on shares of ConocoPhillips from $59.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $59.03.
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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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