First Hawaiian Bank cut its stake in shares of ConocoPhillips (NYSE:COP) by 32.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,962 shares of the energy producer’s stock after selling 20,430 shares during the period. First Hawaiian Bank’s holdings in ConocoPhillips were worth $2,679,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in COP. Vanguard Group Inc. grew its holdings in shares of ConocoPhillips by 0.5% during the third quarter. Vanguard Group Inc. now owns 88,571,791 shares of the energy producer’s stock worth $6,855,456,000 after purchasing an additional 451,104 shares in the last quarter. Vanguard Group Inc boosted its stake in ConocoPhillips by 0.5% in the third quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock worth $6,855,456,000 after buying an additional 451,104 shares in the last quarter. Capital World Investors boosted its stake in ConocoPhillips by 2.4% in the third quarter. Capital World Investors now owns 65,981,471 shares of the energy producer’s stock worth $5,106,966,000 after buying an additional 1,571,260 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in ConocoPhillips by 54,716.8% in the third quarter. Bank of New York Mellon Corp now owns 12,236,749 shares of the energy producer’s stock worth $947,125,000 after buying an additional 12,214,426 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in ConocoPhillips by 12.2% in the third quarter. Dimensional Fund Advisors LP now owns 8,855,458 shares of the energy producer’s stock worth $685,414,000 after buying an additional 964,479 shares in the last quarter. Hedge funds and other institutional investors own 71.75% of the company’s stock.
Shares of COP stock opened at $67.94 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.99 and a debt-to-equity ratio of 0.46. ConocoPhillips has a fifty-two week low of $50.18 and a fifty-two week high of $80.24. The company has a market capitalization of $76.50 billion, a price-to-earnings ratio of 113.23, a P/E/G ratio of 1.86 and a beta of 1.14.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 25th. The energy producer reported $1.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.19. ConocoPhillips had a return on equity of 14.62% and a net margin of 16.08%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.48 billion. On average, equities analysts predict that ConocoPhillips will post 4.47 EPS for the current year.
Several brokerages have issued reports on COP. Goldman Sachs Group lowered ConocoPhillips from a “buy” rating to a “neutral” rating in a research note on Monday, October 1st. Citigroup upped their target price on ConocoPhillips from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, October 5th. Morgan Stanley lowered ConocoPhillips to a “hold” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Monday, October 8th. Finally, Royal Bank of Canada lowered ConocoPhillips from an “outperform” rating to a “sector perform” rating and set a $90.00 target price for the company. in a research note on Thursday, September 20th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $76.41.
ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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