Kessler Investment Group LLC Sells 1,119 Shares of ConocoPhillips (COP)

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Kessler Investment Group LLC decreased its position in ConocoPhillips (NYSE:COP) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,783 shares of the energy producer’s stock after selling 1,119 shares during the period. ConocoPhillips makes up 1.1% of Kessler Investment Group LLC’s investment portfolio, making the stock its 23rd biggest holding. Kessler Investment Group LLC’s holdings in ConocoPhillips were worth $859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Renaissance Technologies LLC acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $17,030,000. Morgan Stanley grew its holdings in shares of ConocoPhillips by 19.2% in the 2nd quarter. Morgan Stanley now owns 4,826,136 shares of the energy producer’s stock valued at $335,995,000 after acquiring an additional 776,284 shares in the last quarter. OLD Mission Capital LLC bought a new position in shares of ConocoPhillips in the 2nd quarter valued at about $296,000. Cubist Systematic Strategies LLC grew its holdings in shares of ConocoPhillips by 707.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 33,086 shares of the energy producer’s stock valued at $2,303,000 after acquiring an additional 28,987 shares in the last quarter. Finally, Highland Capital Management LP bought a new position in shares of ConocoPhillips in the 2nd quarter valued at about $278,000. 71.75% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips stock traded down $1.71 during midday trading on Friday, reaching $66.23. 348,184 shares of the company’s stock were exchanged, compared to its average volume of 6,180,144. ConocoPhillips has a 52 week low of $50.18 and a 52 week high of $80.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.82 and a current ratio of 1.99. The stock has a market capitalization of $76.50 billion, a P/E ratio of 109.78, a PEG ratio of 1.86 and a beta of 1.14.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 25th. The energy producer reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.19. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.48 billion. ConocoPhillips had a return on equity of 14.62% and a net margin of 16.08%. Research analysts forecast that ConocoPhillips will post 4.47 earnings per share for the current year.

COP has been the subject of several analyst reports. Citigroup raised their price objective on ConocoPhillips from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, October 5th. Tudor Pickering upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a report on Friday, December 14th. Morgan Stanley set a $88.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Friday, October 12th. Bank of America upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Monday, October 29th. Finally, Wolfe Research upgraded ConocoPhillips from a “market perform” rating to an “outperform” rating in a report on Monday, December 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. ConocoPhillips presently has an average rating of “Buy” and an average target price of $76.12.

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About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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