Citizens Financial Group Inc. RI trimmed its holdings in ConocoPhillips (NYSE:COP) by 3.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 199,963 shares of the energy producer’s stock after selling 6,965 shares during the period. Citizens Financial Group Inc. RI’s holdings in ConocoPhillips were worth $10,009,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of ConocoPhillips by 1.9% in the second quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock valued at $3,980,473,000 after purchasing an additional 1,694,618 shares during the period. BlackRock Inc. grew its holdings in shares of ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after purchasing an additional 6,197,896 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of ConocoPhillips by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 15,774,835 shares of the energy producer’s stock valued at $693,462,000 after purchasing an additional 397,339 shares during the period. Franklin Resources Inc. grew its holdings in shares of ConocoPhillips by 21.6% in the second quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after purchasing an additional 2,134,292 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in shares of ConocoPhillips by 3.0% in the third quarter. First Eagle Investment Management LLC now owns 10,608,598 shares of the energy producer’s stock valued at $530,960,000 after purchasing an additional 309,683 shares during the period. Institutional investors and hedge funds own 69.63% of the company’s stock.
COP has been the subject of several research analyst reports. Royal Bank of Canada increased their target price on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Credit Suisse Group initiated coverage on shares of ConocoPhillips in a research note on Monday, December 11th. They set a “neutral” rating and a $50.00 target price for the company. Morgan Stanley increased their target price on shares of ConocoPhillips from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price for the company. in a research note on Friday, December 22nd. Finally, Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price for the company in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $55.47.
In other news, Director Charles E. Bunch bought 2,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, December 11th. The shares were purchased at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the acquisition, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is owned by company insiders.
ConocoPhillips (NYSE COP) opened at $60.05 on Monday. The company has a market cap of $71,790.00, a P/E ratio of -30.18, a PEG ratio of 2.79 and a beta of 1.26. ConocoPhillips has a 12 month low of $42.26 and a 12 month high of $60.24. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64.
ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. The firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same quarter last year, the company earned ($0.66) earnings per share. sell-side analysts expect that ConocoPhillips will post 0.57 EPS for the current year.
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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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