Ashburton Jersey Ltd bought a new stake in ConocoPhillips (NYSE:COP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 23,300 shares of the energy producer’s stock, valued at approximately $1,166,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in ConocoPhillips by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock valued at $3,980,473,000 after buying an additional 1,694,618 shares in the last quarter. BlackRock Inc. lifted its holdings in ConocoPhillips by 7.8% in the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after acquiring an additional 6,197,896 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in ConocoPhillips by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 15,774,835 shares of the energy producer’s stock valued at $693,462,000 after acquiring an additional 397,339 shares during the last quarter. Franklin Resources Inc. lifted its holdings in ConocoPhillips by 21.6% in the 2nd quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after acquiring an additional 2,134,292 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in ConocoPhillips by 3.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 10,608,598 shares of the energy producer’s stock valued at $530,960,000 after acquiring an additional 309,683 shares during the last quarter. Hedge funds and other 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 debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $57.19. The company has a market cap of $68,000.00, a PE ratio of -28.58, a price-to-earnings-growth ratio of 2.90 and a beta of 1.26.
A number of equities research analysts have weighed in on COP shares. Piper Jaffray Companies reissued a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a report on Friday, November 3rd. Scotiabank reissued a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a report on Wednesday, November 1st. Royal Bank of Canada set a $58.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a report on Monday, October 30th. Goldman Sachs Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a report on Wednesday, December 13th. Finally, Morgan Stanley upped their price target on shares of ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $55.41.
In related news, Director Charles E. Bunch purchased 2,000 shares of ConocoPhillips stock in a transaction dated Monday, December 11th. The stock was acquired 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.82% of the stock is currently owned by corporate insiders.
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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