ConocoPhillips (COP) Stake Lowered by First Allied Advisory Services Inc.

First Allied Advisory Services Inc. cut its holdings in ConocoPhillips (NYSE:COP) by 6.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,054 shares of the energy producer’s stock after selling 1,773 shares during the quarter. First Allied Advisory Services Inc.’s holdings in ConocoPhillips were worth $1,217,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of COP. Financial Management Professionals Inc. increased its position in shares of ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after purchasing an additional 6 shares in the last quarter. WFG Advisors LP increased its position in shares of ConocoPhillips by 0.4% during the second quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock worth $423,000 after purchasing an additional 39 shares in the last quarter. Genesee Valley Trust Co. increased its position in shares of ConocoPhillips by 0.6% during the second quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock worth $312,000 after purchasing an additional 45 shares in the last quarter. Girard Partners LTD. increased its position in shares of ConocoPhillips by 0.6% during the second quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock worth $371,000 after purchasing an additional 49 shares in the last quarter. Finally, First City Capital Management Inc. increased its position in shares of ConocoPhillips by 1.4% during the second quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock worth $240,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 69.73% of the company’s stock.

In other ConocoPhillips news, Director Charles E. Bunch purchased 2,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were acquired at an average price of $52.06 per share, with a total value of $104,120.00. Following the purchase, the director now directly owns 3,429 shares in the company, valued at approximately $178,513.74. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.82% of the company’s stock.

Several analysts have issued reports on the company. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Wednesday, December 13th. Credit Suisse Group assumed coverage on ConocoPhillips in a report on Monday, December 11th. They issued a “neutral” rating and a $50.00 target price for the company. Royal Bank of Canada upped their target price on ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Howard Weil cut ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price for the company. in a report on Friday, December 22nd. Finally, Barclays upped their target price on ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $55.47.

ConocoPhillips (NYSE:COP) opened at $60.05 on Tuesday. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $60.24. The company has a market capitalization of $71,790.00, a price-to-earnings ratio of -30.18, a PEG ratio of 2.73 and a beta of 1.26. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64.

ConocoPhillips (NYSE:COP) last announced its quarterly 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. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The business had revenue of $7.20 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the prior year, the company posted ($0.66) EPS. sell-side analysts expect that ConocoPhillips will post 0.57 earnings per share for the current year.

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About ConocoPhillips

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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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