Mission Wealth Management LP trimmed its position in shares of ConocoPhillips (NYSE:COP) by 19.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,421 shares of the energy producer’s stock after selling 2,218 shares during the period. Mission Wealth Management LP’s holdings in ConocoPhillips were worth $613,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Rothschild & Co Wealth Management UK Ltd purchased a new stake in ConocoPhillips in the second quarter valued at approximately $27,000. Manchester Financial Inc. bought a new stake in shares of ConocoPhillips during the 4th quarter worth $36,000. Prestige Wealth Management Group LLC purchased a new position in ConocoPhillips in the second quarter worth $38,000. AllSquare Wealth Management LLC increased its stake in ConocoPhillips by 32.7% in the third quarter. AllSquare Wealth Management LLC now owns 742 shares of the energy producer’s stock valued at $42,000 after acquiring an additional 183 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in ConocoPhillips by 170.2% during the third quarter. Larson Financial Group LLC now owns 762 shares of the energy producer’s stock valued at $43,000 after purchasing an additional 480 shares in the last quarter. 71.69% of the stock is owned by institutional investors and hedge funds.
COP has been the subject of several recent research reports. Piper Jaffray Companies initiated coverage on shares of ConocoPhillips in a research note on Tuesday, November 26th. They issued a “buy” rating and a $74.00 price target for the company. JPMorgan Chase & Co. increased their target price on shares of ConocoPhillips from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Wells Fargo & Co reissued a “buy” rating on shares of ConocoPhillips in a research note on Tuesday, November 19th. Susquehanna Bancshares began coverage on shares of ConocoPhillips in a report on Tuesday, January 14th. They set a “positive” rating and a $80.00 target price for the company. Finally, MKM Partners began coverage on ConocoPhillips in a research note on Thursday, December 5th. They issued a “buy” rating and a $72.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $74.00.
In other news, President William L. Jr. Bullock sold 25,628 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $63.17, for a total transaction of $1,618,920.76. Following the completion of the transaction, the president now directly owns 32,926 shares of the company’s stock, valued at approximately $2,079,935.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.66% of the stock is owned by insiders.
Shares of NYSE:COP opened at $64.03 on Wednesday. The stock has a market cap of $71.40 billion, a P/E ratio of 8.71, a P/E/G ratio of 2.09 and a beta of 1.13. The firm has a fifty day moving average price of $64.03 and a 200 day moving average price of $58.61. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.56 and a quick ratio of 2.40. ConocoPhillips has a 1-year low of $50.13 and a 1-year high of $71.01.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. The firm had revenue of $10.09 billion for the quarter, compared to analyst estimates of $7.06 billion. ConocoPhillips had a return on equity of 13.54% and a net margin of 21.44%. During the same quarter last year, the company posted $1.36 earnings per share. Sell-side analysts expect that ConocoPhillips will post 3.68 EPS for the current fiscal year.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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