ConocoPhillips (NYSE:COP) Stake Boosted by Willis Investment Counsel

Willis Investment Counsel lifted its stake in shares of ConocoPhillips (NYSE:COP) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 223,679 shares of the energy producer’s stock after buying an additional 1,535 shares during the period. ConocoPhillips comprises about 1.5% of Willis Investment Counsel’s holdings, making the stock its 27th largest position. Willis Investment Counsel’s holdings in ConocoPhillips were worth $22,182,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in COP. Albion Financial Group UT increased its position in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the period. Values First Advisors Inc. bought a new position in shares of ConocoPhillips during the third quarter worth about $26,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth about $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates boosted its stake in ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares during the period. Institutional investors own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

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

Analyst Upgrades and Downgrades

Several brokerages have commented on COP. Evercore ISI restated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. TD Cowen initiated coverage on ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Wells Fargo & Company decreased their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Susquehanna lifted their price objective 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. Finally, Raymond James upped their price objective 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. Two research 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. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $135.89.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $98.70 on Monday. The stock’s fifty day simple moving average is $101.82 and its 200 day simple moving average is $106.65. The stock has a market capitalization of $113.59 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.76 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the previous year, the company earned $2.16 EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast 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.