ConocoPhillips (NYSE:COP) Position Decreased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC decreased its holdings in ConocoPhillips (NYSE:COP - Free Report) by 91.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,023 shares of the energy producer's stock after selling 84,595 shares during the period. Exchange Traded Concepts LLC's holdings in ConocoPhillips were worth $796,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COP. State Street Corp raised its holdings in shares of ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock valued at $7,046,263,000 after buying an additional 10,663,093 shares during the period. Wellington Management Group LLP raised 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 buying an additional 5,240,016 shares during the period. Geode Capital Management LLC raised its holdings in shares of ConocoPhillips by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer's stock valued at $2,601,639,000 after buying an additional 924,289 shares during the period. Franklin Resources Inc. raised its holdings in shares of ConocoPhillips by 12.5% during the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer's stock valued at $1,469,163,000 after buying an additional 1,506,599 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock valued at $1,311,369,000 after buying an additional 4,656,040 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction on Friday, December 20th. The stock was bought at an average price 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, 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 position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on COP shares. Evercore ISI reaffirmed an "outperform" rating and set a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $134.00 to $132.00 and set an "overweight" rating for the company in a report on Tuesday, January 14th. Morgan Stanley started coverage on ConocoPhillips in a report on Monday, December 16th. They issued an "overweight" rating and a $128.00 price target for the company. TD Cowen started coverage on ConocoPhillips in a report on Friday, January 17th. They issued a "buy" rating and a $125.00 price target for the company. Finally, JPMorgan Chase & Co. raised ConocoPhillips from a "neutral" rating to an "overweight" rating and increased their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $135.89.

ConocoPhillips Stock Performance

NYSE COP traded down $0.25 during trading hours on Thursday, reaching $101.32. The company's stock had a trading volume of 864,601 shares, compared to its average volume of 5,506,607. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $102.29 and a 200 day simple moving average of $106.86. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The stock has a market cap of $116.60 billion, a PE ratio of 12.04, a PEG ratio of 0.86 and a beta of 1.19.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share 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 analyst estimates of $13.97 billion. During the same period last year, the company earned $2.16 earnings per share. The firm's revenue for the quarter was down 8.5% on a year-over-year basis. Equities research analysts predict that ConocoPhillips will post 7.65 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.