Oppenheimer & Co. Inc. Sells 6,711 Shares of ConocoPhillips (COP)

Oppenheimer & Co. Inc. decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,837 shares of the energy producer’s stock after selling 6,711 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in ConocoPhillips were worth $4,246,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in COP. Financial Management Professionals Inc. lifted its stake in ConocoPhillips by 0.3% in the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after acquiring an additional 6 shares during the last quarter. WFG Advisors LP lifted its stake in ConocoPhillips by 0.4% in the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after acquiring an additional 39 shares during the last quarter. Genesee Valley Trust Co. lifted its stake in ConocoPhillips by 0.6% in the second quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock valued at $312,000 after acquiring an additional 45 shares during the last quarter. Girard Partners LTD. lifted its stake in ConocoPhillips by 0.6% in the second quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock valued at $371,000 after acquiring an additional 49 shares during the last quarter. Finally, First City Capital Management Inc. lifted its stake in ConocoPhillips by 1.4% in the second quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock valued at $240,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 69.62% of the company’s stock.

A number of analysts have commented on the stock. Scotiabank reiterated a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a research note on Friday, September 29th. Barclays reiterated an “overweight” rating and issued a $55.00 price target (up previously from $51.00) on shares of ConocoPhillips in a research note on Tuesday, October 10th. 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. Zacks Investment Research cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $52.00 price target on shares of ConocoPhillips in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and a consensus price target of $55.41.

In related news, Director Charles E. Bunch acquired 2,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were bought at an average cost of $52.06 per share, with a total value of $104,120.00. Following the completion of the transaction, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.82% of the stock is owned by corporate insiders.

ConocoPhillips (COP) opened at $56.99 on Friday. The firm has a market cap of $68,130.00, a PE ratio of -28.64, a PEG ratio of 2.85 and a beta of 1.26. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $57.19. 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 issued its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same period in the prior year, the firm earned ($0.66) earnings per share. sell-side analysts predict that ConocoPhillips will post 0.57 EPS for the current fiscal year.

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ConocoPhillips 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.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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