TIAA CREF Investment Management LLC lessened its holdings in ConocoPhillips (NYSE:COP) by 6.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,540,241 shares of the energy producer’s stock after selling 163,989 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.22% of ConocoPhillips worth $139,434,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of COP. Harel Insurance Investments & Financial Services Ltd. boosted its position in ConocoPhillips by 468.8% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,820 shares of the energy producer’s stock valued at $100,000 after buying an additional 1,500 shares during the period. Krilogy Financial LLC raised its stake in shares of ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after acquiring an additional 782 shares during the last quarter. Rocky Mountain Advisers LLC raised its stake in shares of ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after acquiring an additional 1,396 shares during the last quarter. Clear Perspective Advisors LLC raised its stake in shares of ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Truewealth LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at about $138,000. 71.15% of the stock is currently owned by institutional investors.
In other ConocoPhillips news, SVP Andrew D. Lundquist sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $58.96, for a total transaction of $1,474,000.00. Following the sale, the senior vice president now owns 27,353 shares of the company’s stock, valued at approximately $1,612,732.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is currently owned by insiders.
A number of research firms recently issued reports on COP. Credit Suisse Group began coverage on shares of ConocoPhillips in a research note on Monday, December 11th. They issued a “neutral” rating and a $50.00 price target for the company. Goldman Sachs raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Wednesday, December 13th. Zacks Investment Research downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. 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. Finally, Howard Weil cut shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target on the stock. in a report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $59.03.
ConocoPhillips stock traded down $1.20 during trading hours on Friday, hitting $59.26. The company had a trading volume of 8,837,538 shares, compared to its average volume of 7,323,375. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $61.31. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.76 and a quick ratio of 1.64. The stock has a market cap of $69,605.49, a price-to-earnings ratio of 98.77, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $8.74 billion during the quarter, compared to analyst estimates of $7.70 billion. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.81%. During the same quarter in the previous year, the business posted ($0.26) EPS. research analysts expect that ConocoPhillips will post 2.91 earnings per share for the current year.
ConocoPhillips announced that its Board of Directors has initiated a share buyback program on Thursday, February 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the energy producer to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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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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