ConocoPhillips (COP) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB cut its holdings in ConocoPhillips (NYSE:COP) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 665,277 shares of the energy producer’s stock after selling 21,615 shares during the quarter. Nordea Investment Management AB owned about 0.06% of ConocoPhillips worth $41,480,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp grew its position in ConocoPhillips by 54,716.8% during 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 during the period. Oregon Public Employees Retirement Fund grew its position in ConocoPhillips by 6,059.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,910,095 shares of the energy producer’s stock worth $127,000 after buying an additional 7,781,667 shares during the period. AQR Capital Management LLC grew its position in ConocoPhillips by 85.1% during the third quarter. AQR Capital Management LLC now owns 8,596,351 shares of the energy producer’s stock worth $665,357,000 after buying an additional 3,951,688 shares during the period. Dimensional Fund Advisors LP grew its position in ConocoPhillips by 28.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,387,748 shares of the energy producer’s stock worth $710,012,000 after buying an additional 2,532,290 shares during the period. Finally, Capital World Investors grew its position in ConocoPhillips by 2.4% during 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 during the period. Institutional investors own 73.79% of the company’s stock.

COP has been the topic of several recent analyst reports. Piper Jaffray Companies upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $68.00 to $75.00 in a research report on Thursday, March 21st. Zacks Investment Research downgraded shares of ConocoPhillips from a “hold” rating to a “strong sell” rating in a report on Thursday, January 3rd. Morgan Stanley upped their price target on shares of ConocoPhillips from $77.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Barclays reaffirmed a “buy” rating and issued a $79.00 price target on shares of ConocoPhillips in a report on Friday, January 11th. Finally, Goldman Sachs Group raised 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. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $79.00.

COP stock traded down $1.19 on Friday, hitting $62.78. 8,730,278 shares of the company were exchanged, compared to its average volume of 6,721,358. ConocoPhillips has a twelve month low of $56.75 and a twelve month high of $80.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.66 and a current ratio of 1.79. The firm has a market capitalization of $73.00 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.61 and a beta of 1.11.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, January 31st. The energy producer reported $1.13 EPS for the quarter, topping 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 firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, equities analysts forecast that ConocoPhillips will post 4.12 EPS for the current fiscal year.

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ConocoPhillips Company Profile

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.

Further Reading: Cost of equity and a company’s balance sheet

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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