Allred Capital Management LLC bought a new stake in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 871 shares of the energy producer’s stock, valued at approximately $57,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC grew its stake in ConocoPhillips by 86.0% during the 2nd quarter. Private Advisor Group LLC now owns 120,532 shares of the energy producer’s stock valued at $7,280,000 after purchasing an additional 55,728 shares in the last quarter. Pathstone Family Office LLC boosted its stake in shares of ConocoPhillips by 268.2% during the 2nd quarter. Pathstone Family Office LLC now owns 740 shares of the energy producer’s stock valued at $45,000 after buying an additional 539 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ConocoPhillips by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 90,335,159 shares of the energy producer’s stock valued at $5,510,444,000 after buying an additional 269,794 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of ConocoPhillips by 45.5% during the second quarter. Silvercrest Asset Management Group LLC now owns 180,393 shares of the energy producer’s stock worth $11,004,000 after buying an additional 56,394 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of ConocoPhillips by 8.6% during the second quarter. Invesco Ltd. now owns 9,448,755 shares of the energy producer’s stock worth $576,376,000 after buying an additional 749,531 shares in the last quarter. 71.63% of the stock is currently owned by institutional investors and hedge funds.
COP has been the topic of several recent analyst reports. Piper Jaffray Companies initiated coverage on shares of ConocoPhillips in a report on Tuesday, November 26th. They issued a “buy” rating and a $74.00 price target on the stock. Goldman Sachs Group set a $67.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Friday, October 11th. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of ConocoPhillips from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Atlantic Securities began coverage on shares of ConocoPhillips in a research note on Friday, December 13th. They issued an “overweight” rating and a $75.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $74.00.
Shares of COP opened at $65.00 on Thursday. The business’s fifty day moving average price is $63.46 and its 200 day moving average price is $58.50. ConocoPhillips has a 12-month low of $50.13 and a 12-month high of $71.01. The stock has a market capitalization of $71.78 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.18 and a beta of 1.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.56 and a quick ratio of 2.40.
ConocoPhillips (NYSE:COP) last released its earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm had revenue of $10.09 billion during the quarter, compared to analyst estimates of $7.06 billion. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. During the same quarter in the previous year, the firm earned $1.36 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 3.64 earnings per share for the current fiscal year.
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.
Further Reading: The limitations of an equal weight rating
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.