Amarillo National Bank Acquires New Position in ConocoPhillips (COP)
Amarillo National Bank acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,757 shares of the energy producer’s stock, valued at approximately $206,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in COP. State of Alaska Department of Revenue increased its position in ConocoPhillips by 10.6% during the second quarter. State of Alaska Department of Revenue now owns 4,287 shares of the energy producer’s stock worth $188,000 after purchasing an additional 410 shares during the last quarter. National Pension Service increased its position in ConocoPhillips by 10.3% during the second quarter. National Pension Service now owns 1,002,788 shares of the energy producer’s stock worth $44,203,000 after purchasing an additional 93,852 shares during the last quarter. Liberty Capital Management Inc. increased its position in ConocoPhillips by 91.7% during the second quarter. Liberty Capital Management Inc. now owns 4,182 shares of the energy producer’s stock worth $181,000 after purchasing an additional 2,000 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of ConocoPhillips by 512.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 202,420 shares of the energy producer’s stock worth $8,898,000 after acquiring an additional 169,376 shares in the last quarter. Finally, Ledyard National Bank increased its position in shares of ConocoPhillips by 4.4% in the second quarter. Ledyard National Bank now owns 8,558 shares of the energy producer’s stock worth $376,000 after acquiring an additional 360 shares in the last quarter. 69.54% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Charles E. Bunch purchased 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was acquired at an average cost of $52.06 per share, with a total value of $104,120.00. Following the acquisition, the director now owns 3,429 shares in the company, valued at $178,513.74. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.82% of the stock is currently owned by company insiders.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. The business had revenue of $7.20 billion during the quarter, compared to analyst estimates 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 period last year, the business earned ($0.66) EPS. equities analysts anticipate that ConocoPhillips will post 0.57 earnings per share for the current year.
Several equities research analysts have recently issued reports on COP shares. Barclays increased their price objective on shares of ConocoPhillips from $55.00 to $59.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Royal Bank of Canada increased their price objective on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Zacks Investment Research lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Scotiabank reissued a “buy” rating and issued a $53.00 price objective on shares of ConocoPhillips in a research report on Wednesday, November 1st. Finally, Goldman Sachs Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.35.
TRADEMARK VIOLATION WARNING: This piece was published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://theolympiareport.com/2018/01/23/amarillo-national-bank-acquires-new-position-in-conocophillips-cop.html.
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.
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.