MU Investments Co. Ltd. lowered its position in shares of ConocoPhillips (NYSE:COP) by 39.7% during the second quarter, Holdings Channel reports. The fund owned 3,270 shares of the company’s stock after selling 2,150 shares during the period. MU Investments Co. Ltd.’s holdings in ConocoPhillips were worth $144,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Solaris Asset Management LLC boosted its position in ConocoPhillips by 4.6% in the second quarter. Solaris Asset Management LLC now owns 87,884 shares of the company’s stock worth $3,832,000 after buying an additional 3,890 shares during the last quarter. Calamos Wealth Management LLC boosted its stake in shares of ConocoPhillips by 18.8% in the second quarter. Calamos Wealth Management LLC now owns 35,748 shares of the company’s stock valued at $1,559,000 after buying an additional 5,658 shares in the last quarter. Mraz Amerine & Associates Inc. boosted its stake in shares of ConocoPhillips by 310.4% in the second quarter. Mraz Amerine & Associates Inc. now owns 20,480 shares of the company’s stock valued at $893,000 after buying an additional 15,490 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of ConocoPhillips by 452.1% in the second quarter. American Century Companies Inc. now owns 878,900 shares of the company’s stock valued at $38,320,000 after buying an additional 719,722 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its stake in shares of ConocoPhillips by 157.6% in the second quarter. Artemis Investment Management LLP now owns 74,114 shares of the company’s stock valued at $3,231,000 after buying an additional 45,346 shares in the last quarter. Institutional investors own 63.70% of the company’s stock.
Shares of ConocoPhillips (NYSE:COP) traded down 0.44% during mid-day trading on Friday, hitting $43.47. The stock had a trading volume of 8,814,000 shares. The firm has a 50 day moving average price of $41.63 and a 200 day moving average price of $42.67. ConocoPhillips has a 52-week low of $31.05 and a 52-week high of $57.24. The firm’s market cap is $53.84 billion.
ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, July 28th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.61) by $0.18. The company earned $5.58 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 35.6% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share. Equities analysts predict that ConocoPhillips will post ($2.47) EPS for the current year.
Several equities research analysts have weighed in on COP shares. Deutsche Bank AG reiterated a “buy” rating and issued a $62.00 target price on shares of ConocoPhillips in a report on Thursday, June 16th. Jefferies Group reiterated a “sell” rating on shares of ConocoPhillips in a report on Thursday, June 30th. Vetr cut ConocoPhillips from a “hold” rating to a “sell” rating and set a $40.39 target price for the company. in a report on Thursday, September 8th. JPMorgan Chase & Co. upgraded ConocoPhillips from an “underweight” rating to a “neutral” rating and set a $44.00 target price for the company in a report on Monday, July 11th. They noted that the move was a valuation call. Finally, Credit Suisse Group AG reiterated a “neutral” rating on shares of ConocoPhillips in a report on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company’s stock. ConocoPhillips currently has an average rating of “Hold” and a consensus target price of $48.63.
In other ConocoPhillips news, Director Arjun N. Murti purchased 6,500 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was bought at an average cost of $39.72 per share, with a total value of $258,180.00. Following the acquisition, the director now directly owns 19,000 shares of the company’s stock, valued at $754,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Ellen Desanctis purchased 5,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were acquired at an average cost of $40.50 per share, with a total value of $202,500.00. Following the completion of the acquisition, the vice president now directly owns 22,010 shares in the company, valued at $891,405. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.
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.
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.