Boston Research & Management Inc. grew its stake in shares of ConocoPhillips (NYSE:COP) by 4.0% during the third quarter, HoldingsChannel reports. The firm owned 57,041 shares of the energy producer’s stock after buying an additional 2,215 shares during the period. Boston Research & Management Inc.’s holdings in ConocoPhillips were worth $2,854,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Financial Management Professionals Inc. lifted its stake in shares of ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after acquiring an additional 6 shares in the last quarter. First Command Bank lifted its stake in shares of ConocoPhillips by 9.4% in the second quarter. First Command Bank now owns 2,313 shares of the energy producer’s stock worth $101,000 after acquiring an additional 199 shares in the last quarter. Krilogy Financial LLC lifted its stake in shares of ConocoPhillips by 48.6% in the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after acquiring an additional 782 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of ConocoPhillips in the first quarter worth about $123,000. Finally, Clear Perspective Advisors LLC lifted its stake in shares of ConocoPhillips by 75.5% in the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after acquiring an additional 1,200 shares in the last quarter. Institutional investors own 69.62% of the company’s stock.
Shares of ConocoPhillips (NYSE COP) opened at $56.88 on Friday. 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 $68,000.00, a PE ratio of -28.58, a P/E/G ratio of 2.91 and a beta of 1.26. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $57.19.
Several research analysts recently commented on COP shares. Royal Bank of Canada reiterated a “buy” rating and issued a $54.00 price target on shares of ConocoPhillips in a research note on Friday, September 29th. Scotiabank reiterated a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a research note on Friday, September 29th. Piper Jaffray Companies reiterated a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a research note on Friday, November 3rd. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, December 13th. Finally, 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 note on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $55.41.
In other news, Director Charles E. Bunch acquired 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average cost of $52.06 per share, with a total value of $104,120.00. Following the completion of the acquisition, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is owned by insiders.
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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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