GYL Financial Synergies LLC purchased a new position in ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,151 shares of the energy producer’s stock, valued at approximately $259,000.
A number of other hedge funds also recently made changes to their positions in COP. North Star Investment Management Corp. increased its holdings in shares of ConocoPhillips by 0.4% in the 4th quarter. North Star Investment Management Corp. now owns 52,431 shares of the energy producer’s stock worth $3,269,000 after buying an additional 215 shares during the last quarter. Equitable Trust Co. grew its holdings in ConocoPhillips by 13.4% during the 3rd quarter. Equitable Trust Co. now owns 19,676 shares of the energy producer’s stock valued at $1,523,000 after purchasing an additional 2,320 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its holdings in ConocoPhillips by 48.0% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 77,291 shares of the energy producer’s stock valued at $4,819,000 after purchasing an additional 25,069 shares during the last quarter. Legacy Bridge LLC bought a new position in ConocoPhillips during the 4th quarter valued at about $534,000. Finally, Assenagon Asset Management S.A. bought a new position in ConocoPhillips during the 4th quarter valued at about $25,236,000. Institutional investors and hedge funds own 73.58% of the company’s stock.
COP has been the topic of several analyst reports. Zacks Investment Research downgraded shares of ConocoPhillips from a “hold” rating to a “strong sell” rating in a report on Thursday, January 3rd. Bank of America downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $75.00 price target on the stock. in a report on Friday, January 4th. Barclays reiterated a “buy” rating and set a $79.00 price target on shares of ConocoPhillips in a report on Friday, January 11th. Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price target for the company from $76.00 to $82.00 in a report on Sunday, February 3rd. Finally, Piper Jaffray Companies upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the company from $68.00 to $75.00 in a report on Thursday, March 21st. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $79.00.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, January 31st. The energy producer reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. ConocoPhillips had a net margin of 16.16% and a return on equity of 16.91%. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the company earned $0.45 EPS. Research analysts expect that ConocoPhillips will post 3.74 earnings per share for the current year.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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