Evercore Wealth Management LLC trimmed its position in ConocoPhillips (NYSE:COP) by 5.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,404 shares of the energy producer’s stock after selling 2,400 shares during the period. Evercore Wealth Management LLC’s holdings in ConocoPhillips were worth $2,073,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of COP. Freestone Capital Holdings LLC raised its holdings in ConocoPhillips by 78.7% during the second quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock worth $354,000 after acquiring an additional 3,543 shares in the last quarter. Point View Wealth Management Inc. raised its holdings in ConocoPhillips by 19.8% during the second quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock worth $1,448,000 after acquiring an additional 5,452 shares in the last quarter. Toronto Dominion Bank raised its holdings in ConocoPhillips by 16.1% during the second quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock worth $27,092,000 after acquiring an additional 85,538 shares in the last quarter. Korea Investment CORP raised its holdings in ConocoPhillips by 32.8% during the third quarter. Korea Investment CORP now owns 1,026,000 shares of the energy producer’s stock worth $51,351,000 after acquiring an additional 253,600 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in ConocoPhillips during the second quarter worth about $26,376,000. Institutional investors own 69.63% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) opened at $60.05 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. The stock has a market capitalization of $71,790.00, a P/E ratio of -30.18, a price-to-earnings-growth ratio of 2.75 and a beta of 1.26. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $60.24.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion for the quarter, compared to analyst estimates 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 earned ($0.66) earnings per share. equities research analysts forecast that ConocoPhillips will post 0.57 EPS for the current fiscal year.
COP has been the topic of several analyst reports. Royal Bank of Canada reiterated a “buy” rating and set a $54.00 target price on shares of ConocoPhillips in a report on Friday, September 29th. Scotiabank reiterated a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a report on Friday, September 29th. Piper Jaffray Companies reiterated a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a report on Friday, November 3rd. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Wednesday, December 13th. Finally, Morgan Stanley upped their target price on ConocoPhillips from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $55.47.
In other ConocoPhillips news, Director Charles E. Bunch acquired 2,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were purchased at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the purchase, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.82% of the stock is owned by corporate insiders.
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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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