CoreCap Advisors LLC Has $1.70 Million Position in ConocoPhillips (NYSE:COP)

CoreCap Advisors LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 19.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,128 shares of the energy producer’s stock after buying an additional 2,834 shares during the period. CoreCap Advisors LLC’s holdings in ConocoPhillips were worth $1,699,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after buying an additional 5,549,078 shares during the period. Invesco Ltd. raised its position in shares of ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after acquiring an additional 4,211,939 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after acquiring an additional 3,541,504 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after acquiring an additional 3,397,360 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Morgan Stanley restated an “overweight” rating and set a $116.00 price target on shares of ConocoPhillips in a report on Tuesday, April 15th. Truist Financial boosted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Royal Bank of Canada decreased their price target on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, April 14th. UBS Group dropped their price objective on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $124.79.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $88.97 on Friday. The stock has a market cap of $112.47 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $124.23. The firm’s 50-day simple moving average is $93.12 and its 200 day simple moving average is $99.55.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the previous year, the firm earned $2.05 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips 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.