Cetera Advisors LLC lessened its stake in shares of ConocoPhillips (NYSE:COP) by 6.2% in the third quarter, Holdings Channel reports. The institutional investor owned 44,548 shares of the energy producer’s stock after selling 2,956 shares during the quarter. Cetera Advisors LLC’s holdings in ConocoPhillips were worth $2,245,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of COP. Financial Management Professionals Inc. increased its holdings in 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 buying an additional 6 shares during the last quarter. Krilogy Financial LLC boosted its position in ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after purchasing an additional 782 shares during the period. Rocky Mountain Advisers LLC boosted its position in ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after purchasing an additional 1,396 shares during the period. Clear Perspective Advisors LLC boosted its position in ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after purchasing an additional 1,200 shares during the period. Finally, Lloyds Banking Group plc bought a new position in ConocoPhillips during the second quarter worth about $127,000. Institutional investors and hedge funds own 69.73% of the company’s stock.
ConocoPhillips (COP) opened at $59.75 on Friday. 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 has a 1 year low of $42.26 and a 1 year high of $60.24. The company has a market cap of $71,430.00, a P/E ratio of -30.03, a PEG ratio of 2.59 and a beta of 1.26.
In other news, Director Charles E. Bunch acquired 2,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was bought at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the transaction, the director now owns 3,429 shares of the company’s stock, valued at $178,513.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by company insiders.
A number of equities analysts have weighed in on COP shares. Royal Bank of Canada increased their target price on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Cowen set a $70.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Thursday. Credit Suisse Group started coverage on shares of ConocoPhillips in a research report on Monday, December 11th. They set a “neutral” rating and a $50.00 target price for the company. Morgan Stanley increased their target price on shares of ConocoPhillips from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Finally, Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price for the company. in a research report on Friday, December 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $56.35.
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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