ConocoPhillips (COP) Shares Sold by First Republic Investment Management Inc.

First Republic Investment Management Inc. lowered its position in shares of ConocoPhillips (NYSE:COP) by 8.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 175,773 shares of the energy producer’s stock after selling 15,359 shares during the period. First Republic Investment Management Inc.’s holdings in ConocoPhillips were worth $8,798,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in ConocoPhillips by 1.9% in the second quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock valued at $3,980,473,000 after purchasing an additional 1,694,618 shares during the last quarter. BlackRock Inc. grew its stake in ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after purchasing an additional 6,197,896 shares during the last quarter. Bank of New York Mellon Corp grew its stake in ConocoPhillips by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 15,774,835 shares of the energy producer’s stock valued at $693,462,000 after purchasing an additional 397,339 shares during the last quarter. Franklin Resources Inc. grew its stake in ConocoPhillips by 21.6% in the second quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after purchasing an additional 2,134,292 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in ConocoPhillips by 3.0% in the third quarter. First Eagle Investment Management LLC now owns 10,608,598 shares of the energy producer’s stock valued at $530,960,000 after purchasing an additional 309,683 shares during the last quarter. Hedge funds and other institutional investors own 69.73% of the company’s stock.

Shares of ConocoPhillips (COP) opened at $60.05 on Tuesday. ConocoPhillips has a 52 week low of $42.26 and a 52 week high of $60.24. The firm has a market capitalization of $71,790.00, a PE ratio of -30.18, a PEG ratio of 2.73 and a beta of 1.26. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The firm had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the company posted ($0.66) earnings per share. research analysts forecast that ConocoPhillips will post 0.57 EPS for the current fiscal year.

In other news, Director Charles E. Bunch bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the acquisition, the director now directly owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.82% of the company’s stock.

Several research firms have issued reports on COP. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating and set a $66.00 target price on the stock in a research note on Wednesday, January 10th. Howard Weil lowered ConocoPhillips from a “focus list” rating to an “outperform” rating and set a $58.00 target price on the stock. in a research note on Friday, December 22nd. Royal Bank of Canada set a $61.00 target price on ConocoPhillips and gave the company a “buy” rating in a research note on Wednesday, December 20th. Piper Jaffray Companies reiterated a “buy” rating and issued a $53.00 target price on shares of ConocoPhillips in a research note on Friday, November 3rd. Finally, Credit Suisse Group began coverage on ConocoPhillips in a research note on Monday, December 11th. They issued a “neutral” rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips has a consensus rating of “Buy” and an average price target of $55.47.

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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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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