ConocoPhillips (NYSE:COP) Shares Sold by Golden State Equity Partners

Golden State Equity Partners decreased its holdings in ConocoPhillips (NYSE:COP) by 24.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,573 shares of the energy producer’s stock after selling 2,116 shares during the period. Golden State Equity Partners’ holdings in ConocoPhillips were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of COP. Ruedi Wealth Management Inc. grew its stake in shares of ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter worth $26,000. Stephens Consulting LLC grew its stake in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in ConocoPhillips in the second quarter valued at $35,000. Finally, Fairway Wealth LLC lifted its position in ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after acquiring an additional 153 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on COP shares. Sanford C. Bernstein reduced their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Barclays reduced their target price on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.94.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips Trading Up 0.7 %

Shares of COP opened at $103.03 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm has a 50 day simple moving average of $108.02 and a 200-day simple moving average of $113.20. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The stock has a market cap of $119.64 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same period last year, the company posted $1.84 EPS. The company’s revenue was up 9.7% on a year-over-year basis. Equities analysts forecast that ConocoPhillips will post 7.85 EPS for the current fiscal year.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.