Stableford Capital II LLC Sells 177 Shares of ConocoPhillips (NYSE:COP)

Stableford Capital II LLC lessened its position in shares of ConocoPhillips (NYSE:COP) by 1.9% in the fourth quarter, HoldingsChannel reports. The fund owned 9,318 shares of the energy producer’s stock after selling 177 shares during the period. Stableford Capital II LLC’s holdings in ConocoPhillips were worth $924,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Independence Bank of Kentucky grew its stake in shares of ConocoPhillips by 51.9% in the fourth quarter. Independence Bank of Kentucky now owns 10,344 shares of the energy producer’s stock valued at $1,026,000 after acquiring an additional 3,536 shares in the last quarter. Dohj LLC acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $666,000. Concord Wealth Partners grew its position in shares of ConocoPhillips by 94.1% during the 4th quarter. Concord Wealth Partners now owns 36,384 shares of the energy producer’s stock worth $3,608,000 after purchasing an additional 17,640 shares in the last quarter. Concord Asset Management LLC VA increased its holdings in shares of ConocoPhillips by 90.9% during the fourth quarter. Concord Asset Management LLC VA now owns 36,451 shares of the energy producer’s stock worth $3,615,000 after purchasing an additional 17,360 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in shares of ConocoPhillips by 12.1% in the fourth quarter. Chicago Partners Investment Group LLC now owns 6,827 shares of the energy producer’s stock valued at $694,000 after buying an additional 737 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on COP shares. TD Cowen initiated coverage on ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Scotiabank cut their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the company from $132.00 to $134.00 in a report on Monday, December 16th. Finally, Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two 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 stock currently has an average rating of “Buy” and a consensus target price of $135.89.

ConocoPhillips Price Performance

Shares of COP opened at $98.70 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market cap of $113.59 billion, a PE ratio of 11.74, a PEG ratio of 0.78 and a beta of 1.19. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The business has a 50-day simple moving average of $101.82 and a two-hundred day simple moving average of $106.71.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. The firm’s revenue was down 8.5% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 7.64 earnings per share for the current fiscal year.

ConocoPhillips Company 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.