Vident Investment Advisory LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) in the third quarter, HoldingsChannel reports. The firm acquired 9,732 shares of the energy producer’s stock, valued at approximately $487,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cornerstone Capital Management Holdings LLC. boosted its position in ConocoPhillips by 18.8% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 351,519 shares of the energy producer’s stock worth $17,591,000 after acquiring an additional 55,599 shares during the period. Boothbay Fund Management LLC acquired a new position in ConocoPhillips during the 3rd quarter worth $231,000. Oppenheimer Asset Management Inc. boosted its position in ConocoPhillips by 3.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 240,116 shares of the energy producer’s stock worth $12,018,000 after acquiring an additional 7,476 shares during the period. Magnetar Financial LLC boosted its position in ConocoPhillips by 442.0% during the 3rd quarter. Magnetar Financial LLC now owns 41,554 shares of the energy producer’s stock worth $2,080,000 after acquiring an additional 33,887 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in ConocoPhillips by 0.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,951,394 shares of the energy producer’s stock worth $97,662,000 after acquiring an additional 7,280 shares during the period. Hedge funds and other institutional investors own 69.73% of the company’s stock.
In other news, Director Charles E. Bunch acquired 2,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was acquired at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the acquisition, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.82% of the company’s stock.
A number of research analysts have issued reports on COP shares. Royal Bank of Canada boosted their price target on ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Credit Suisse Group started coverage on ConocoPhillips in a research report on Monday, December 11th. They set a “neutral” rating and a $50.00 price target for the company. Morgan Stanley boosted their price target on ConocoPhillips from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Howard Weil lowered ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target for the company. in a research report on Friday, December 22nd. Finally, Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price target for the company in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $55.47.
Shares of ConocoPhillips (COP) opened at $58.84 on Wednesday. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $71,790.73, a price-to-earnings ratio of -31.81, a PEG ratio of 2.73 and a beta of 1.26. ConocoPhillips has a twelve month low of $42.26 and a twelve month high of $60.24.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The business had revenue of $7.20 billion during the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same quarter in the prior year, the firm posted ($0.66) earnings per share. analysts forecast that ConocoPhillips will post 0.57 EPS for the current 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.
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