Public Employees Retirement System of Ohio cut its stake in ConocoPhillips (NYSE:COP) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 846,162 shares of the energy producer’s stock after selling 40,615 shares during the period. Public Employees Retirement System of Ohio owned about 0.07% of ConocoPhillips worth $42,350,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of COP. BlackRock Inc. raised its holdings in shares of ConocoPhillips by 7.8% in the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after buying an additional 6,197,896 shares in the last quarter. AJO LP raised its holdings in shares of ConocoPhillips by 3,000.7% in the 2nd quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock worth $131,353,000 after buying an additional 2,891,652 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of ConocoPhillips by 21.6% in the 2nd quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock worth $528,635,000 after buying an additional 2,134,292 shares in the last quarter. Brandywine Global Investment Management LLC increased its holdings in ConocoPhillips by 183.5% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 3,138,796 shares of the energy producer’s stock valued at $137,982,000 after purchasing an additional 2,031,830 shares in the last quarter. Finally, Eaton Vance Management increased its holdings in ConocoPhillips by 49.2% during the 2nd quarter. Eaton Vance Management now owns 5,395,400 shares of the energy producer’s stock valued at $237,182,000 after purchasing an additional 1,780,223 shares in the last quarter. 69.73% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on COP. Macquarie began coverage on ConocoPhillips in a report on Wednesday. They set an “outperform” rating for the company. Cowen set a $70.00 price target on ConocoPhillips and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price target for the company in a report on Wednesday, January 10th. Howard Weil cut ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price target for the company. in a report on Friday, December 22nd. Finally, Royal Bank of Canada set a $61.00 price target on ConocoPhillips and gave the company a “buy” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $56.35.
Shares of ConocoPhillips (NYSE COP) opened at $59.75 on Friday. The company has a market capitalization of $71,432.08, a price-to-earnings ratio of 2,987.50, a PEG ratio of 2.59 and a beta of 1.26. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $60.24. 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 (NYSE:COP) last released its earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The company had revenue of $7.20 billion during the quarter, compared to analysts’ expectations 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 period last year, the firm earned ($0.66) EPS. sell-side analysts predict that ConocoPhillips will post 0.57 earnings per share for the current fiscal 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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