Econ Financial Services Corp Takes $2.62 Million Position in ConocoPhillips (NYSE:COP)

Econ Financial Services Corp bought a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 26,413 shares of the energy producer’s stock, valued at approximately $2,619,000. ConocoPhillips comprises 1.5% of Econ Financial Services Corp’s investment portfolio, making the stock its 19th biggest holding.

Other large investors have also added to or reduced their stakes in the company. Cypress Capital Group increased its holdings in ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after purchasing an additional 96 shares in the last quarter. Orrstown Financial Services Inc. grew its position in shares of ConocoPhillips by 3.0% during the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after buying an additional 96 shares during the period. Aprio Wealth Management LLC increased its stake in shares of ConocoPhillips by 4.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after acquiring an additional 97 shares in the last quarter. Smithfield Trust Co lifted its position in shares of ConocoPhillips by 3.3% during the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after acquiring an additional 100 shares during the period. Finally, Ignite Planners LLC boosted its stake in ConocoPhillips by 1.0% during the third quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock worth $1,053,000 after acquiring an additional 102 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COP shares. Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. TD Cowen started coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Evercore ISI restated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Piper Sandler reduced their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Susquehanna boosted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $135.89.

ConocoPhillips Stock Performance

Shares of COP opened at $100.61 on Wednesday. The stock has a 50 day moving average of $101.54 and a 200 day moving average of $106.36. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The company has a market capitalization of $115.80 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.76 and a beta of 1.18.

Insider Activity

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

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.