ConocoPhillips (NYSE:COP) Shares Acquired by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lifted its position in shares of ConocoPhillips (NYSE:COP) by 5.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 52,264 shares of the energy producer’s stock after acquiring an additional 2,691 shares during the period. Sumitomo Life Insurance Co.’s holdings in ConocoPhillips were worth $3,399,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in COP. Haverford Trust Co. grew its holdings in shares of ConocoPhillips by 0.4% during the 3rd 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 period. AllSquare Wealth Management LLC grew its holdings in shares of ConocoPhillips by 32.7% during the 3rd quarter. AllSquare Wealth Management LLC now owns 742 shares of the energy producer’s stock worth $42,000 after purchasing an additional 183 shares during the period. Sandy Spring Bank grew its holdings in shares of ConocoPhillips by 0.3% during the 3rd quarter. Sandy Spring Bank now owns 53,979 shares of the energy producer’s stock worth $3,075,000 after purchasing an additional 185 shares during the period. Advisors Preferred LLC grew its holdings in shares of ConocoPhillips by 11.6% during the 4th quarter. Advisors Preferred LLC now owns 1,841 shares of the energy producer’s stock worth $120,000 after purchasing an additional 191 shares during the period. Finally, Dividend Assets Capital LLC grew 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 purchasing an additional 200 shares during the period. 71.69% of the stock is owned by institutional investors and hedge funds.

In other ConocoPhillips news, President William L. Jr. Bullock sold 25,628 shares of the company’s stock in a transaction that occurred 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 transaction, the president now directly owns 32,926 shares of the company’s stock, valued at approximately $2,079,935.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

A number of brokerages have recently issued reports on COP. Goldman Sachs Group set a $67.00 target price on ConocoPhillips and gave the stock a “buy” rating in a report on Friday, October 11th. UBS Group boosted their target price on ConocoPhillips from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on ConocoPhillips from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Robert W. Baird initiated coverage on ConocoPhillips in a report on Tuesday, January 14th. They issued an “outperform” rating and a $72.00 price target for the company. Finally, Atlantic Securities initiated coverage on ConocoPhillips in a report on Friday, December 13th. They issued an “overweight” rating and a $75.00 price target for the company. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $74.67.

NYSE COP traded down $0.93 on Friday, reaching $62.21. The company had a trading volume of 3,132,655 shares, compared to its average volume of 4,953,544. The firm has a market capitalization of $69.14 billion, a PE ratio of 8.46, a P/E/G ratio of 2.03 and a beta of 1.13. ConocoPhillips has a 1 year low of $50.13 and a 1 year high of $71.01. The firm has a 50-day moving average of $64.16 and a 200-day moving average of $58.64. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.56 and a quick ratio of 2.40.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. ConocoPhillips had a return on equity of 13.54% and a net margin of 21.44%. The firm had revenue of $10.09 billion during the quarter, compared to analysts’ expectations of $7.06 billion. During the same quarter in the prior year, the business earned $1.36 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 3.68 EPS 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 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: Recession

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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