Cornerstone Capital Inc. trimmed its stake in ConocoPhillips (NYSE:COP) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 149,157 shares of the energy producer’s stock after selling 5,192 shares during the period. Cornerstone Capital Inc.’s holdings in ConocoPhillips were worth $7,465,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Management Professionals Inc. boosted its position in ConocoPhillips by 0.3% during 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 position in ConocoPhillips by 9.4% during 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 position in 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. Clear Perspective Advisors LLC boosted its position in 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, Lloyds Banking Group plc bought a new stake in ConocoPhillips during the second quarter valued at $127,000. Institutional investors and hedge funds own 69.73% of the company’s stock.
A number of equities analysts have recently issued reports on COP shares. Scotiabank reissued a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research report on Friday, September 29th. Royal Bank of Canada reissued a “buy” rating and set a $54.00 price objective on shares of ConocoPhillips in a research report on Friday, September 29th. Zacks Investment Research cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Barclays reissued an “overweight” rating and set a $55.00 price objective (up previously from $51.00) on shares of ConocoPhillips in a research report on Tuesday, October 10th. Finally, Morgan Stanley increased their price objective on shares of ConocoPhillips from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $56.35.
Shares of ConocoPhillips (NYSE:COP) traded down $0.01 during mid-day trading on Friday, hitting $59.75. 5,031,279 shares of the stock traded hands, compared to its average volume of 5,270,000. The stock has a market cap of $71,430.00, a price-to-earnings ratio of -30.03, a P/E/G ratio of 2.59 and a beta of 1.26. ConocoPhillips has a 12 month low of $42.26 and a 12 month 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 released its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned ($0.66) EPS. equities research analysts anticipate that ConocoPhillips will post 0.57 earnings per share for the current fiscal year.
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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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