M Holdings Securities Inc. reduced its position in ConocoPhillips (NYSE:COP) by 42.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,904 shares of the energy producer’s stock after selling 5,077 shares during the period. ConocoPhillips comprises 1.2% of M Holdings Securities Inc.’s holdings, making the stock its 13th largest position. M Holdings Securities Inc.’s holdings in ConocoPhillips were worth $3,858,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of COP. Boston Partners lifted its stake in ConocoPhillips by 41.6% in the 4th quarter. Boston Partners now owns 8,184,604 shares of the energy producer’s stock valued at $449,252,000 after purchasing an additional 2,403,806 shares during the last quarter. Brandywine Global Investment Management LLC lifted its stake in ConocoPhillips by 183.5% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 3,138,796 shares of the energy producer’s stock valued at $137,982,000 after purchasing an additional 2,031,830 shares during the last quarter. Vanguard Group Inc. lifted its stake in ConocoPhillips by 1.9% in 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 purchasing an additional 1,694,618 shares during the last quarter. Lazard Asset Management LLC lifted its stake in ConocoPhillips by 35.7% in the 4th quarter. Lazard Asset Management LLC now owns 5,665,128 shares of the energy producer’s stock valued at $310,957,000 after purchasing an additional 1,490,618 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in ConocoPhillips by 66.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 2,671,428 shares of the energy producer’s stock valued at $117,436,000 after purchasing an additional 1,067,428 shares during the last quarter. Institutional investors and hedge funds own 71.15% of the company’s stock.
Several equities research analysts have issued reports on COP shares. Credit Suisse Group started coverage on shares of ConocoPhillips in a research report on Monday, December 11th. They set a “neutral” rating and a $50.00 price objective for the company. Goldman Sachs upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Wednesday, December 13th. Zacks Investment Research downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Royal Bank of Canada set a $61.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Finally, Howard Weil downgraded shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective for the company. in a research report on Friday, December 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $59.03.
Shares of COP traded down $1.20 during mid-day trading on Friday, hitting $59.26. 8,837,538 shares of the company’s stock were exchanged, compared to its average volume of 7,323,375. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $61.31. The stock has a market capitalization of $69,605.49, a PE ratio of 98.77, a P/E/G ratio of 1.75 and a beta of 1.23. The company has a current ratio of 1.76, a quick ratio of 1.64 and a debt-to-equity ratio of 0.56.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 1st. The energy producer reported $0.45 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. ConocoPhillips had a negative net margin of 2.04% and a positive return on equity of 2.81%. The company had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $7.70 billion. During the same period last year, the firm earned ($0.26) earnings per share. equities research analysts predict that ConocoPhillips will post 2.91 earnings per share for the current fiscal year.
ConocoPhillips declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the energy producer to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, SVP Andrew D. Lundquist sold 25,000 shares of ConocoPhillips stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $58.96, for a total value of $1,474,000.00. Following the transaction, the senior vice president now directly owns 27,353 shares of the company’s stock, valued at $1,612,732.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.82% of the company’s stock.
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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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