CRA Financial Services LLC Trims Holdings in ConocoPhillips (COP)

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CRA Financial Services LLC cut its stake in ConocoPhillips (NYSE:COP) by 3.0% in the first quarter, HoldingsChannel.com reports. The firm owned 6,840 shares of the energy producer’s stock after selling 215 shares during the period. CRA Financial Services LLC’s holdings in ConocoPhillips were worth $457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of COP. Virtu Financial LLC bought a new position in shares of ConocoPhillips during the 1st quarter worth about $508,000. CAPROCK Group Inc. lifted its holdings in shares of ConocoPhillips by 13.2% during the 1st quarter. CAPROCK Group Inc. now owns 4,211 shares of the energy producer’s stock worth $281,000 after acquiring an additional 492 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of ConocoPhillips during the 1st quarter worth about $13,955,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the 1st quarter worth about $42,000. Finally, Arvest Bank Trust Division increased its position in shares of ConocoPhillips by 8.0% during the 1st quarter. Arvest Bank Trust Division now owns 295,210 shares of the energy producer’s stock worth $19,703,000 after purchasing an additional 21,987 shares in the last quarter. 73.58% of the stock is owned by hedge funds and other institutional investors.

COP opened at $66.34 on Tuesday. The company has a quick ratio of 1.66, a current ratio of 1.79 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $75.29 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 2.37 and a beta of 1.11. ConocoPhillips has a 1-year low of $56.75 and a 1-year high of $80.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, January 31st. The energy producer reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.60 billion. ConocoPhillips had a net margin of 16.16% and a return on equity of 16.91%. During the same quarter last year, the company posted $0.45 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 3.74 EPS for the current year.

A number of equities research analysts recently issued reports on COP shares. Barclays reiterated a “buy” rating and set a $79.00 target price on shares of ConocoPhillips in a research report on Friday, January 11th. Bank of America cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $75.00 target price for the company. in a research report on Friday, January 4th. Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and increased their target price for the stock from $76.00 to $82.00 in a research report on Sunday, February 3rd. Zacks Investment Research upgraded shares of ConocoPhillips from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Finally, Morgan Stanley set a $77.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday, January 29th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $79.00.

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ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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