OLD National Bancorp IN Decreases Holdings in ConocoPhillips (NYSE:COP)

OLD National Bancorp IN cut its holdings in shares of ConocoPhillips (NYSE:COP) by 2.0% during the 4th quarter, HoldingsChannel reports. The fund owned 112,422 shares of the energy producer’s stock after selling 2,252 shares during the quarter. OLD National Bancorp IN’s holdings in ConocoPhillips were worth $11,149,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in COP. Advisory Alpha LLC raised its stake in shares of ConocoPhillips by 5.2% during the second quarter. Advisory Alpha LLC now owns 9,042 shares of the energy producer’s stock worth $1,034,000 after acquiring an additional 444 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of ConocoPhillips by 7.4% in the second quarter. Cetera Investment Advisers now owns 308,413 shares of the energy producer’s stock worth $35,276,000 after buying an additional 21,286 shares during the period. Ariadne Wealth Management LP purchased a new position in shares of ConocoPhillips in the second quarter worth $120,000. New Century Financial Group LLC purchased a new position in shares of ConocoPhillips in the second quarter worth $383,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of ConocoPhillips in the second quarter worth $59,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COP shares. Scotiabank decreased their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets boosted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Susquehanna boosted their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $135.89.

ConocoPhillips Price Performance

NYSE COP opened at $101.49 on Thursday. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The firm has a market capitalization of $116.81 billion, a P/E ratio of 12.07, a PEG ratio of 0.86 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average price of $102.53 and a 200-day moving average price of $106.90.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter last year, the business earned $2.16 EPS. The firm’s revenue was down 8.5% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 7.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

About ConocoPhillips

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.