Envestnet Asset Management Inc. Sells 63,944 Shares of ConocoPhillips (COP)

Envestnet Asset Management Inc. lessened its position in shares of ConocoPhillips (NYSE:COP) by 29.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 152,285 shares of the energy producer’s stock after selling 63,944 shares during the quarter. Envestnet Asset Management Inc.’s holdings in ConocoPhillips were worth $7,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. lifted its position in shares of ConocoPhillips by 0.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after buying an additional 6 shares during the period. WFG Advisors LP lifted its position in shares of ConocoPhillips by 0.4% during the 2nd quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock worth $423,000 after buying an additional 39 shares during the period. Genesee Valley Trust Co. lifted its position in shares of ConocoPhillips by 0.6% during the 2nd quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock worth $312,000 after buying an additional 45 shares during the period. Girard Partners LTD. lifted its position in shares of ConocoPhillips by 0.6% during the 2nd quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock worth $371,000 after buying an additional 49 shares during the period. Finally, First City Capital Management Inc. lifted its position in shares of ConocoPhillips by 1.4% during the 2nd quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock worth $240,000 after buying an additional 75 shares during the period. 69.63% of the stock is currently owned by institutional investors.

ConocoPhillips (NYSE:COP) opened at $60.05 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $60.24. The stock has a market capitalization of $71,790.00, a price-to-earnings ratio of -30.18, a price-to-earnings-growth ratio of 2.75 and a beta of 1.26.

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

In other ConocoPhillips news, Director Charles E. Bunch acquired 2,000 shares of the business’s stock in a transaction on Monday, December 11th. The stock was purchased at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the transaction, the director now owns 3,429 shares in the company, valued at approximately $178,513.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.82% of the company’s stock.

Several equities analysts recently commented on COP shares. JPMorgan Chase & Co. restated an “overweight” rating on shares of ConocoPhillips in a research report on Saturday, September 16th. Scotiabank restated a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research report on Friday, September 29th. Royal Bank of Canada restated a “buy” rating and set a $54.00 target price on shares of ConocoPhillips in a research report on Friday, September 29th. Zacks Investment Research downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, Barclays restated an “overweight” rating and set a $55.00 target price (up previously from $51.00) on shares of ConocoPhillips in a research report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. ConocoPhillips has a consensus rating of “Buy” and a consensus price target of $55.47.

ILLEGAL ACTIVITY WARNING: “Envestnet Asset Management Inc. Sells 63,944 Shares of ConocoPhillips (COP)” was reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://transcriptdaily.com/2018/01/14/envestnet-asset-management-inc-sells-63944-shares-of-conocophillips-cop.html.

About ConocoPhillips

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.

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply