Steward Partners Investment Advisory LLC purchased a new stake in ConocoPhillips (NYSE:COP) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 30,543 shares of the energy producer’s stock, valued at approximately $1,528,000.
Several other institutional investors have also made changes to their positions in COP. BlackRock Inc. lifted its stake in shares of 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 purchasing an additional 6,197,896 shares during the last quarter. AJO LP lifted its stake in shares of ConocoPhillips by 3,000.7% in the 2nd quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after purchasing an additional 2,891,652 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of 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 purchasing an additional 2,134,292 shares during the last quarter. Brandywine Global Investment Management LLC lifted its stake in shares of ConocoPhillips by 183.5% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 3,138,796 shares of the energy producer’s stock valued at $137,982,000 after purchasing an additional 2,031,830 shares during the last quarter. Finally, Eaton Vance Management lifted its stake in shares of ConocoPhillips by 49.2% in the 2nd quarter. Eaton Vance Management now owns 5,395,400 shares of the energy producer’s stock valued at $237,182,000 after purchasing an additional 1,780,223 shares during the last quarter. 69.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of ConocoPhillips (COP) opened at $59.75 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $71,432.08, a price-to-earnings ratio of 2,987.50, a P/E/G ratio of 2.59 and a beta of 1.26. ConocoPhillips has a 1-year low of $42.26 and a 1-year high of $60.24.
In related news, Director Charles E. Bunch purchased 2,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were bought at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the acquisition, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is owned by corporate insiders.
Several equities analysts have recently commented on COP shares. Barclays upped their price target on ConocoPhillips from $55.00 to $59.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Royal Bank of Canada upped their price target on ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Zacks Investment Research lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Scotiabank reaffirmed a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a research note on Wednesday, November 1st. Finally, Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. ConocoPhillips has an average rating of “Buy” and a consensus target price of $56.35.
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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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