Hanson & Doremus Investment Management lowered its position in ConocoPhillips (NYSE:COP) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,264 shares of the energy producer’s stock after selling 1,316 shares during the period. Hanson & Doremus Investment Management’s holdings in ConocoPhillips were worth $863,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Rothschild & Co Wealth Management UK Ltd bought a new position in shares of ConocoPhillips during the 2nd quarter worth $27,000. Prestige Wealth Management Group LLC bought a new position in shares of ConocoPhillips during the 2nd quarter worth $38,000. AllSquare Wealth Management LLC grew its stake in shares of ConocoPhillips by 32.7% during the 3rd quarter. AllSquare Wealth Management LLC now owns 742 shares of the energy producer’s stock worth $42,000 after acquiring an additional 183 shares during the period. Larson Financial Group LLC grew its stake in shares of ConocoPhillips by 170.2% during the 3rd quarter. Larson Financial Group LLC now owns 762 shares of the energy producer’s stock worth $43,000 after acquiring an additional 480 shares during the period. Finally, Pathstone Family Office LLC grew its stake in shares of ConocoPhillips by 268.2% during the 2nd quarter. Pathstone Family Office LLC now owns 740 shares of the energy producer’s stock worth $45,000 after acquiring an additional 539 shares during the period. Institutional investors and hedge funds own 71.63% of the company’s stock.
Several research analysts have recently weighed in on the company. Atlantic Securities assumed coverage on ConocoPhillips in a research note on Friday, December 13th. They set an “overweight” rating and a $75.00 price target for the company. Robert W. Baird assumed coverage on ConocoPhillips in a research note on Tuesday. They set an “outperform” rating and a $72.00 price target for the company. Morgan Stanley cut their price target on ConocoPhillips from $81.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. Goldman Sachs Group set a $67.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, MKM Partners initiated coverage on ConocoPhillips in a report on Thursday, December 5th. They set a “buy” rating and a $72.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $74.00.
COP traded up $0.47 during trading on Thursday, reaching $65.47. 145,413 shares of the company were exchanged, compared to its average volume of 5,216,964. The company’s 50-day moving average is $63.46 and its two-hundred day moving average is $58.50. The company has a market cap of $71.48 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 2.14 and a beta of 1.13. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.42. ConocoPhillips has a 12-month low of $50.13 and a 12-month high of $71.01.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, October 29th. The energy producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $10.09 billion for the quarter, compared to analysts’ expectations of $7.06 billion. ConocoPhillips had a return on equity of 13.54% and a net margin of 21.44%. During the same quarter in the prior year, the firm posted $1.36 EPS. Equities analysts forecast that ConocoPhillips will post 3.64 earnings per share for the current year.
In related news, President William L. Jr. Bullock sold 25,628 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $63.17, for a total transaction of $1,618,920.76. Following the sale, the president now owns 32,926 shares of the company’s stock, valued at approximately $2,079,935.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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