Park National Corp OH cut its position in shares of ConocoPhillips (NYSE:COP) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,935 shares of the energy producer’s stock after selling 4,905 shares during the period. Park National Corp OH’s holdings in ConocoPhillips were worth $6,978,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in COP. State Street Corp increased its stake in shares of ConocoPhillips by 3.3% in the fourth quarter. State Street Corp now owns 62,935,763 shares of the energy producer’s stock worth $3,155,606,000 after buying an additional 1,984,973 shares during the last quarter. FMR LLC increased its position in shares of ConocoPhillips by 17.3% in the fourth quarter. FMR LLC now owns 57,515,901 shares of the energy producer’s stock worth $2,883,848,000 after buying an additional 8,487,514 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of ConocoPhillips by 3.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 33,707,193 shares of the energy producer’s stock worth $1,465,252,000 after buying an additional 1,196,214 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of ConocoPhillips by 1.1% in the third quarter. BlackRock Fund Advisors now owns 19,445,358 shares of the energy producer’s stock worth $845,290,000 after buying an additional 216,543 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of ConocoPhillips by 1.4% in the third quarter. Northern Trust Corp now owns 15,540,730 shares of the energy producer’s stock worth $675,555,000 after buying an additional 209,216 shares in the last quarter. 65.39% of the stock is currently owned by institutional investors and hedge funds.
ConocoPhillips (NYSE:COP) traded down 0.10% during mid-day trading on Friday, hitting $47.90. The stock had a trading volume of 4,848,000 shares. The company has a 50 day moving average price of $47.36 and a 200 day moving average price of $47.40. The stock’s market cap is $59.20 billion. ConocoPhillips has a one year low of $38.80 and a one year high of $53.17.
ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 2nd. The energy producer reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.16. ConocoPhillips had a negative net margin of 14.84% and a negative return on equity of 8.73%. The company earned $7.25 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same period in the previous year, the firm posted ($0.90) earnings per share. On average, equities analysts anticipate that ConocoPhillips will post $0.72 EPS for the current year.
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A number of equities analysts have issued reports on COP shares. Societe Generale upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Wednesday, January 11th. Scotiabank reissued a “buy” rating and set a $60.00 target price on shares of ConocoPhillips in a report on Monday, February 6th. Royal Bank of Canada reissued a “buy” rating and set a $57.00 target price on shares of ConocoPhillips in a report on Tuesday, January 3rd. Wells Fargo & Co reissued an “outperform” rating on shares of ConocoPhillips in a report on Saturday, January 14th. Finally, Goldman Sachs Group Inc reissued a “positive” rating on shares of ConocoPhillips in a report on Monday, February 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. ConocoPhillips has an average rating of “Buy” and a consensus target price of $56.87.
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 six segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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