Pinebridge Investments L.P. raised its position in shares of ConocoPhillips (NYSE:COP) by 2,349.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,706 shares of the energy producer’s stock after acquiring an additional 449,567 shares during the period. Pinebridge Investments L.P.’s holdings in ConocoPhillips were worth $23,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of COP. BlackRock Inc. raised its holdings in shares of ConocoPhillips by 7.8% during the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after acquiring an additional 6,197,896 shares in the last quarter. AJO LP raised its holdings in shares of ConocoPhillips by 3,000.7% during the 2nd quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock worth $131,353,000 after acquiring an additional 2,891,652 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of ConocoPhillips by 21.6% during the 2nd quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock worth $528,635,000 after acquiring an additional 2,134,292 shares in the last quarter. Brandywine Global Investment Management LLC raised its holdings in shares of ConocoPhillips by 183.5% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 3,138,796 shares of the energy producer’s stock worth $137,982,000 after acquiring an additional 2,031,830 shares in the last quarter. Finally, Eaton Vance Management raised its holdings in shares of ConocoPhillips by 49.2% during the 2nd quarter. Eaton Vance Management now owns 5,395,400 shares of the energy producer’s stock worth $237,182,000 after acquiring an additional 1,780,223 shares in the last quarter. 69.63% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Charles E. Bunch purchased 2,000 shares of the company’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 transaction, the director now owns 3,429 shares of the company’s stock, valued at $178,513.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.82% of the company’s stock.
ConocoPhillips (COP) opened at $60.05 on Friday. The company has a market capitalization of $70,750.64, a price-to-earnings ratio of 2,959.00, a price-to-earnings-growth ratio of 2.75 and a beta of 1.26. 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 12-month low of $42.26 and a 12-month high of $60.24.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data 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. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.55 billion. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. During the same quarter in the prior year, the company posted ($0.66) EPS. equities research analysts expect that ConocoPhillips will post 0.57 earnings per share for the current fiscal year.
Several analysts have recently issued reports on the company. Credit Suisse Group assumed coverage on ConocoPhillips in a report on Monday, December 11th. They set a “neutral” rating and a $50.00 price objective on the stock. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 price target on the stock in a report on Wednesday. Barclays restated an “overweight” rating and set a $55.00 price target (up previously from $51.00) on shares of ConocoPhillips in a report on Tuesday, October 10th. Piper Jaffray Companies restated a “buy” rating and set a $53.00 price target on shares of ConocoPhillips in a report on Friday, November 3rd. Finally, Wells Fargo & Co increased their price target on ConocoPhillips from $57.00 to $60.00 and gave the company an “outperform” 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 given a strong buy rating to the company. ConocoPhillips presently has a consensus rating of “Buy” and a consensus price target of $55.47.
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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