Golden State Equity Partners Has $1.20 Million Position in ConocoPhillips (NYSE:COP)

Golden State Equity Partners lifted its stake in shares of ConocoPhillips (NYSE:COP) by 79.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,105 shares of the energy producer’s stock after purchasing an additional 5,346 shares during the quarter. Golden State Equity Partners’ holdings in ConocoPhillips were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in COP. State Street Corp grew its stake in shares of ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after buying an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares in the last quarter. Geode Capital Management LLC grew its position in ConocoPhillips by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after acquiring an additional 924,289 shares during the last quarter. Franklin Resources Inc. increased its holdings in ConocoPhillips by 12.5% in the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after purchasing an additional 1,506,599 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 2.7 %

Shares of COP stock opened at $98.70 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a market capitalization of $113.59 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.78 and a beta of 1.19. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a 50-day simple moving average of $101.82 and a two-hundred day simple moving average of $106.65.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.16 earnings per share. Research analysts anticipate that ConocoPhillips will post 7.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on COP shares. Wells Fargo & Company reduced their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. TD Cowen initiated coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Raymond James lifted their price target on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Evercore ISI restated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $135.89.

Insiders Place Their Bets

In related news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.