Livingston Group Asset Management CO operating as Southport Capital Management Reduces Stake in ConocoPhillips (NYSE:COP)

Livingston Group Asset Management CO operating as Southport Capital Management lessened its position in shares of ConocoPhillips (NYSE:COP) by 9.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 14,401 shares of the energy producer’s stock after selling 1,455 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in ConocoPhillips were worth $936,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Cullinan Associates Inc. acquired a new stake in ConocoPhillips during the 4th quarter worth $1,622,000. Notis McConarty Edward acquired a new position in ConocoPhillips in the 4th quarter valued at about $222,000. AE Wealth Management LLC increased its position in ConocoPhillips by 18.9% in the 4th quarter. AE Wealth Management LLC now owns 44,978 shares of the energy producer’s stock valued at $2,925,000 after acquiring an additional 7,149 shares during the period. Farmers Trust Co. raised its stake in ConocoPhillips by 36.7% during the 4th quarter. Farmers Trust Co. now owns 72,158 shares of the energy producer’s stock valued at $4,692,000 after acquiring an additional 19,358 shares during the last quarter. Finally, FormulaFolio Investments LLC raised its stake in ConocoPhillips by 3.2% during the 4th quarter. FormulaFolio Investments LLC now owns 8,921 shares of the energy producer’s stock valued at $580,000 after acquiring an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 71.63% of the company’s stock.

A number of analysts have weighed in on COP shares. Susquehanna Bancshares started coverage on ConocoPhillips in a research report on Tuesday. They set a “positive” rating and a $80.00 price objective for the company. Atlantic Securities initiated coverage on ConocoPhillips in a report on Friday, December 13th. They issued an “overweight” rating and a $75.00 target price on the stock. Wells Fargo & Co restated a “buy” rating on shares of ConocoPhillips in a research note on Tuesday, November 19th. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Tuesday. Finally, Robert W. Baird began coverage on shares of ConocoPhillips in a research note on Tuesday. They issued an “outperform” rating and a $72.00 price objective on the stock. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $74.00.

Shares of COP stock traded up $0.32 during trading hours on Thursday, reaching $65.32. 1,472,629 shares of the company’s stock were exchanged, compared to its average volume of 5,216,964. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.56 and a quick ratio of 2.40. The company’s 50 day moving average is $63.46 and its two-hundred day moving average is $58.50. The company has a market cap of $71.48 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13. ConocoPhillips has a 1 year low of $50.13 and a 1 year high of $71.01.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. ConocoPhillips had a return on equity of 13.54% and a net margin of 21.44%. The firm had revenue of $10.09 billion for the quarter, compared to the consensus estimate of $7.06 billion. During the same period in the previous year, the business earned $1.36 earnings per share. As a group, analysts predict that ConocoPhillips will post 3.64 EPS for the current fiscal year.

In other ConocoPhillips news, President William L. Jr. Bullock sold 25,628 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $63.17, for a total value of $1,618,920.76. Following the completion of the transaction, the president now owns 32,926 shares in the company, valued at $2,079,935.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

ConocoPhillips 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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