Saturna Capital CORP Sells 8,777 Shares of ConocoPhillips (COP)

Saturna Capital CORP trimmed its holdings in ConocoPhillips (NYSE:COP) by 48.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,285 shares of the energy producer’s stock after selling 8,777 shares during the period. Saturna Capital CORP’s holdings in ConocoPhillips were worth $465,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after purchasing an additional 6,197,896 shares during the period. AJO LP grew its holdings in shares of ConocoPhillips by 3,000.7% in the second quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after purchasing an additional 2,891,652 shares during the period. Franklin Resources Inc. grew its holdings in shares of ConocoPhillips by 21.6% in the second quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after purchasing an additional 2,134,292 shares during the period. Brandywine Global Investment Management LLC grew its holdings in shares of ConocoPhillips by 183.5% in the second 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 period. Finally, Eaton Vance Management grew its holdings in shares of ConocoPhillips by 49.2% in the second quarter. Eaton Vance Management now owns 5,395,400 shares of the energy producer’s stock valued at $237,182,000 after purchasing an additional 1,780,223 shares during the period. Institutional investors and hedge funds own 69.73% of the company’s stock.

A number of brokerages recently issued reports on COP. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective for the company in a report on Wednesday, January 10th. 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. 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. Goldman Sachs Group 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. Finally, Credit Suisse Group began coverage on shares of ConocoPhillips in a report on Monday, December 11th. They issued a “neutral” rating and a $50.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. ConocoPhillips currently has a consensus rating of “Buy” and an average price target of $55.47.

In other ConocoPhillips news, Director Charles E. Bunch purchased 2,000 shares of ConocoPhillips stock in a transaction dated Monday, December 11th. The shares were acquired at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the transaction, the director now owns 3,429 shares of the company’s stock, valued at $178,513.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.

Shares of ConocoPhillips (NYSE COP) opened at $60.05 on Tuesday. The stock has a market cap of $71,790.73, a PE ratio of -32.46, a PEG ratio of 2.73 and a beta of 1.26. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $60.24. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same quarter in the prior year, the company earned ($0.66) earnings per share. research analysts expect that ConocoPhillips will post 0.57 EPS for the current fiscal year.

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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.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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