Advisors Capital Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,874 shares of the energy producer’s stock after acquiring an additional 16,883 shares during the period. Advisors Capital Management LLC’s holdings in ConocoPhillips were worth $9,153,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of COP. Financial Management Professionals Inc. boosted its stake in ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 6 shares during the last quarter. First Command Bank boosted its stake in ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock valued at $101,000 after acquiring an additional 199 shares during the last quarter. Krilogy Financial LLC boosted its stake in ConocoPhillips by 48.6% in 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. Westside Investment Management Inc. boosted its stake in ConocoPhillips by 468.4% in the first quarter. Westside Investment Management Inc. now owns 2,427 shares of the energy producer’s stock valued at $119,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Massey Quick & Co. LLC purchased a new position in ConocoPhillips in the first quarter valued at about $123,000. 69.62% of the stock is owned by institutional investors and hedge funds.
Shares of ConocoPhillips (NYSE COP) traded up $0.43 during trading hours on Tuesday, hitting $55.32. 3,962,713 shares of the stock were exchanged, compared to its average volume of 5,620,000. The company has a market cap of $66,140.00, a price-to-earnings ratio of -27.80, a price-to-earnings-growth ratio of 8.75 and a beta of 1.26. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $56.37. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the firm earned ($0.66) EPS. research analysts forecast that ConocoPhillips will post 0.57 earnings per share for the current fiscal year.
In other ConocoPhillips news, Director Charles E. Bunch bought 2,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, December 11th. The shares were bought at an average price of $52.06 per share, with a total value of $104,120.00. Following the acquisition, the director now owns 3,429 shares in the company, valued at $178,513.74. The purchase 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 company insiders.
A number of research analysts have weighed in on COP shares. Piper Jaffray Companies reiterated a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research note on Friday, November 3rd. Scotiabank restated a “buy” rating and set a $53.00 price target on shares of ConocoPhillips in a research note on Wednesday, November 1st. Royal Bank of Canada set a $58.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a research note on Monday, October 30th. Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, December 13th. Finally, Morgan Stanley upped their price target on shares of ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $55.41.
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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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