Livingston Group Asset Management CO operating as Southport Capital Management Lowers Stake in ConocoPhillips (NYSE:COP)

Livingston Group Asset Management CO operating as Southport Capital Management reduced its position in shares of ConocoPhillips (NYSE:COP) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,401 shares of the energy producer’s stock after selling 1,455 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in ConocoPhillips were worth $936,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Haverford Trust Co. increased its position in ConocoPhillips by 0.4% during the third quarter. Haverford Trust Co. now owns 44,783 shares of the energy producer’s stock worth $2,552,000 after purchasing an additional 175 shares during the last quarter. AllSquare Wealth Management LLC grew its stake in shares of ConocoPhillips by 32.7% in the 3rd quarter. AllSquare Wealth Management LLC now owns 742 shares of the energy producer’s stock valued at $42,000 after buying an additional 183 shares during the period. Sandy Spring Bank grew its stake in shares of ConocoPhillips by 0.3% in the 3rd quarter. Sandy Spring Bank now owns 53,979 shares of the energy producer’s stock valued at $3,075,000 after buying an additional 185 shares during the period. Dividend Assets Capital LLC increased its holdings in shares of ConocoPhillips by 4.3% during the 3rd quarter. Dividend Assets Capital LLC now owns 4,864 shares of the energy producer’s stock worth $277,000 after buying an additional 200 shares during the last quarter. Finally, Legacy Advisors LLC increased its holdings in shares of ConocoPhillips by 4.6% during the 3rd quarter. Legacy Advisors LLC now owns 4,820 shares of the energy producer’s stock worth $275,000 after buying an additional 210 shares during the last quarter. 71.63% of the stock is currently owned by institutional investors and hedge funds.

In other news, President William L. Jr. Bullock sold 25,628 shares of ConocoPhillips stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $63.17, for a total value of $1,618,920.76. Following the completion of the sale, the president now directly owns 32,926 shares of the company’s stock, valued at $2,079,935.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by company insiders.

COP stock traded up $0.32 during midday trading on Thursday, hitting $65.32. 1,472,629 shares of the company’s stock were exchanged, compared to its average volume of 5,216,964. The business has a 50-day simple moving average of $63.46 and a two-hundred day simple moving average of $58.50. The company has a current ratio of 2.56, a quick ratio of 2.40 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $71.48 billion, a PE ratio of 14.42, a P/E/G ratio of 2.14 and a beta of 1.13. ConocoPhillips has a 1-year low of $50.13 and a 1-year high of $71.01.

ConocoPhillips (NYSE:COP) last posted its earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. The company had revenue of $10.09 billion during the quarter, compared to analysts’ expectations of $7.06 billion. ConocoPhillips had a return on equity of 13.54% and a net margin of 21.44%. During the same quarter last year, the firm earned $1.36 earnings per share. As a group, research analysts expect that ConocoPhillips will post 3.64 EPS for the current fiscal year.

A number of research firms recently commented on COP. MKM Partners began coverage on ConocoPhillips in a report on Thursday, December 5th. They issued a “buy” rating and a $72.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on ConocoPhillips from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Wells Fargo & Co reissued a “buy” rating on shares of ConocoPhillips in a research note on Tuesday, November 19th. Goldman Sachs Group set a $67.00 target price on ConocoPhillips and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Piper Jaffray Companies began coverage on ConocoPhillips in a research note on Tuesday, November 26th. They set a “buy” rating and a $74.00 target price for the company. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $74.00.

About ConocoPhillips

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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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