QUANTRES ASSET MANAGEMENT Ltd Acquires New Position in ConocoPhillips (COP)
QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,100 shares of the energy producer’s stock, valued at approximately $719,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Financial Management Professionals Inc. raised its holdings in shares of ConocoPhillips by 0.3% during the second quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock worth $100,000 after purchasing an additional 6 shares during the period. Krilogy Financial LLC raised its holdings in shares of ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock worth $105,000 after purchasing an additional 782 shares during the period. Rocky Mountain Advisers LLC raised its holdings in shares of ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock worth $120,000 after purchasing an additional 1,396 shares during the period. Clear Perspective Advisors LLC raised its holdings in shares of ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock worth $123,000 after purchasing an additional 1,200 shares during the period. Finally, Lloyds Banking Group plc acquired a new stake in shares of ConocoPhillips during the second quarter worth $127,000. Hedge funds and other institutional investors own 69.54% of the company’s stock.
A number of brokerages have weighed in on COP. Cowen set a $70.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Thursday. Macquarie began coverage on shares of ConocoPhillips in a report on Wednesday, January 17th. They set an “outperform” rating on the stock. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price on the stock in a report on Wednesday, January 10th. Howard Weil cut shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price on the stock. in a report on Friday, December 22nd. Finally, Royal Bank of Canada set a $61.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $56.35.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter last year, the company earned ($0.66) EPS. analysts expect that ConocoPhillips will post 0.57 earnings per share for the current year.
In other news, Director Charles E. Bunch acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were acquired at an average price of $52.06 per share, with a total value of $104,120.00. Following the acquisition, the director now directly owns 3,429 shares in the company, valued at $178,513.74. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.82% of the stock is owned by company insiders.
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ConocoPhillips Company Profile
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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