James Investment Research Inc. acquired a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, Holdings Channel reports. The firm acquired 174,418 shares of the energy producer’s stock, valued at approximately $9,573,000.

A number of other hedge funds have also recently modified their holdings of COP. WFG Advisors LP raised its stake in shares of ConocoPhillips by 0.4% in the 2nd quarter. WFG Advisors LP now owns 9,611 shares of the energy producer’s stock valued at $423,000 after purchasing an additional 39 shares in the last quarter. Genesee Valley Trust Co. raised its stake in shares of ConocoPhillips by 0.6% in the 2nd quarter. Genesee Valley Trust Co. now owns 7,095 shares of the energy producer’s stock valued at $312,000 after purchasing an additional 45 shares in the last quarter. Girard Partners LTD. raised its stake in shares of ConocoPhillips by 0.6% in the 2nd quarter. Girard Partners LTD. now owns 8,434 shares of the energy producer’s stock valued at $371,000 after purchasing an additional 49 shares in the last quarter. First City Capital Management Inc. raised its stake in shares of ConocoPhillips by 1.4% in the 2nd quarter. First City Capital Management Inc. now owns 5,459 shares of the energy producer’s stock valued at $240,000 after purchasing an additional 75 shares in the last quarter. Finally, Whalerock Point Partners LLC raised its stake in shares of ConocoPhillips by 1.2% in the 2nd quarter. Whalerock Point Partners LLC now owns 8,300 shares of the energy producer’s stock valued at $365,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 69.63% of the company’s stock.

ConocoPhillips (NYSE:COP) opened at $58.46 on Wednesday. ConocoPhillips has a 1 year low of $42.26 and a 1 year high of $61.31. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The company has a market cap of $69,890.00, a PE ratio of -29.38, a price-to-earnings-growth ratio of 2.40 and a beta of 1.26.

COP has been the topic of a number of recent analyst reports. Royal Bank of Canada upped their target price on shares of ConocoPhillips from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Morgan Stanley increased their price objective on shares of ConocoPhillips from $48.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Cowen set a $70.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, January 18th. 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 price objective on the stock. Finally, Howard Weil lowered shares of ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 price objective on the stock. in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $57.94.

In other news, Director Charles E. Bunch bought 2,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was purchased at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the transaction, the director now owns 3,429 shares in the company, valued at $178,513.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.82% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION NOTICE: “174,418 Shares in ConocoPhillips (COP) Purchased by James Investment Research Inc.” was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://theolympiareport.com/2018/01/31/174418-shares-in-conocophillips-cop-purchased-by-james-investment-research-inc.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.

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).

Institutional Ownership by Quarter 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.