Telemus Capital LLC raised its position in ConocoPhillips (NYSE:COP) by 21.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,915 shares of the energy producer’s stock after buying an additional 1,027 shares during the quarter. Telemus Capital LLC’s holdings in ConocoPhillips were worth $385,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Rothschild & Co Wealth Management UK Ltd bought a new position in ConocoPhillips during the second quarter worth about $27,000. Manchester Financial Inc. bought a new stake in ConocoPhillips in the 4th quarter valued at about $36,000. AllSquare Wealth Management LLC boosted its holdings in ConocoPhillips by 32.7% in the 3rd quarter. AllSquare Wealth Management LLC now owns 742 shares of the energy producer’s stock valued at $42,000 after purchasing an additional 183 shares during the period. Larson Financial Group LLC boosted its holdings in ConocoPhillips by 170.2% in the 3rd 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 during the period. Finally, WealthStone Inc. acquired a new position in shares of ConocoPhillips during the 2nd quarter worth approximately $45,000. 71.51% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on COP. Robert W. Baird initiated coverage on shares of ConocoPhillips in a report on Tuesday, January 14th. They set an “outperform” rating and a $72.00 target price on the stock. Morgan Stanley cut their price target on ConocoPhillips from $81.00 to $79.00 and set an “overweight” rating for the company in a research note on Monday, October 14th. UBS Group increased their price target on ConocoPhillips from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday. ValuEngine raised ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. raised their price objective on ConocoPhillips from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. ConocoPhillips has an average rating of “Buy” and an average price target of $74.67.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.04. The business had revenue of $10.09 billion for the quarter, compared to analyst estimates of $7.06 billion. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. During the same quarter last year, the business posted $1.36 EPS. On average, research analysts predict that ConocoPhillips will post 3.67 EPS for the current fiscal year.
In other ConocoPhillips news, President William L. Jr. Bullock sold 25,628 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 in the company, valued at $2,079,935.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by insiders.
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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