HPM Partners LLC trimmed its position in ConocoPhillips (NYSE:COP) by 21.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,279 shares of the energy producer’s stock after selling 5,443 shares during the quarter. HPM Partners LLC’s holdings in ConocoPhillips were worth $1,113,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in COP. Harel Insurance Investments & Financial Services Ltd. increased its holdings in ConocoPhillips by 468.8% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock worth $100,000 after acquiring an additional 1,500 shares in the last quarter. Krilogy Financial LLC increased its holdings in ConocoPhillips by 48.6% in the 2nd 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 increased its holdings in ConocoPhillips by 140.2% in the 3rd 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 increased its holdings in ConocoPhillips by 75.5% in the 2nd 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 purchased a new stake in ConocoPhillips in the 4th quarter worth approximately $138,000. 71.15% of the stock is owned by institutional investors.
A number of brokerages have issued reports on COP. Royal Bank of Canada set a $61.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Wednesday, December 20th. Cowen set a $70.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Thursday, January 18th. Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective for the company. in a report on Friday, December 22nd. Zacks Investment Research lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Finally, Goldman Sachs raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ConocoPhillips has a consensus rating of “Buy” and a consensus price target of $59.03.
In other news, SVP Andrew D. Lundquist sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $58.96, for a total transaction of $1,474,000.00. Following the completion of the transaction, the senior vice president now directly owns 27,353 shares in the company, valued at approximately $1,612,732.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.
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. The company has a market cap of $69,957.87, a PE ratio of 98.77, a PEG ratio of 1.76 and a beta of 1.23. ConocoPhillips has a one year low of $42.26 and a one year high of $61.31.
ConocoPhillips (NYSE:COP) last posted 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 firm 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 period in the prior year, the company earned ($0.26) EPS. sell-side analysts expect that ConocoPhillips will post 2.91 EPS for the current year.
ConocoPhillips announced that its Board of Directors has initiated a share repurchase program on Thursday, February 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the energy producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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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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