Alps Advisors Inc. boosted its position in shares of ConocoPhillips (NYSE:COP) by 9.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 591,017 shares of the company’s stock after buying an additional 51,946 shares during the period. Alps Advisors Inc.’s holdings in ConocoPhillips were worth $25,768,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. Integrated Investment Consultants LLC boosted its stake in ConocoPhillips by 25.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,543 shares of the company’s stock valued at $111,000 after buying an additional 509 shares in the last quarter. Cribstone Capital Management LLC bought a new stake in ConocoPhillips during the second quarter valued at approximately $122,000. Cornerstone Advisors Inc. boosted its stake in ConocoPhillips by 2.3% in the second quarter. Cornerstone Advisors Inc. now owns 3,517 shares of the company’s stock valued at $153,000 after buying an additional 79 shares in the last quarter. MCF Advisors LLC boosted its stake in ConocoPhillips by 0.3% in the first quarter. MCF Advisors LLC now owns 3,865 shares of the company’s stock valued at $156,000 after buying an additional 12 shares in the last quarter. Finally, Zions Bancorporation boosted its stake in ConocoPhillips by 8.6% in the first quarter. Zions Bancorporation now owns 3,905 shares of the company’s stock valued at $160,000 after buying an additional 309 shares in the last quarter. 63.70% of the stock is owned by institutional investors and hedge funds.
ConocoPhillips (NYSE:COP) traded down 0.44% during mid-day trading on Friday, reaching $43.47. The company’s stock had a trading volume of 8,814,000 shares. ConocoPhillips has a 1-year low of $31.05 and a 1-year high of $57.24. The stock’s market capitalization is $53.84 billion. The stock’s 50 day moving average price is $41.63 and its 200 day moving average price is $42.67.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.18. The business earned $5.58 billion during the quarter, compared to analyst estimates of $5.38 billion. ConocoPhillips had a negative net margin of 28.40% and a negative return on equity of 9.26%. The company’s revenue was down 35.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 earnings per share. Analysts expect that ConocoPhillips will post ($2.47) EPS for the current fiscal year.
Several equities research analysts recently commented on COP shares. Deutsche Bank AG reaffirmed a “buy” rating and issued a $62.00 price target on shares of ConocoPhillips in a report on Thursday, June 16th. Jefferies Group reaffirmed a “sell” rating on shares of ConocoPhillips in a report on Thursday, June 30th. JPMorgan Chase & Co. raised ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 price target for the company in a report on Monday, July 11th. They noted that the move was a valuation call. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Wednesday, July 13th. Finally, Simmons reaffirmed a “neutral” rating on shares of ConocoPhillips in a report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. ConocoPhillips has a consensus rating of “Hold” and a consensus target price of $48.63.
In other news, VP Ellen Desanctis acquired 5,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was acquired at an average cost of $40.50 per share, for a total transaction of $202,500.00. Following the acquisition, the vice president now directly owns 22,010 shares in the company, valued at approximately $891,405. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arjun N. Murti acquired 6,500 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were purchased at an average price of $39.72 per share, with a total value of $258,180.00. Following the completion of the acquisition, the director now owns 19,000 shares in the company, valued at $754,680. The disclosure for this purchase can be found here. 0.07% of the stock is owned by company insiders.
ConocoPhillips Company Profile
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas and liquefied natural gas (LNG). The Company operates through six operating segments, which are primarily defined by geographic region: Alaska; Lower 48; Canada; Europe and North Africa; Asia Pacific and Middle East, and Other International.
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