Leisure Capital Management Sells 714 Shares of ConocoPhillips (NYSE:COP)

Leisure Capital Management lessened its holdings in ConocoPhillips (NYSE:COP) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,612 shares of the energy producer’s stock after selling 714 shares during the quarter. Leisure Capital Management’s holdings in ConocoPhillips were worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. AMF Tjanstepension AB lifted its stake in ConocoPhillips by 4.7% in the third quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock valued at $122,628,000 after purchasing an additional 52,334 shares during the last quarter. Czech National Bank lifted its position in shares of ConocoPhillips by 6.2% during the 3rd quarter. Czech National Bank now owns 236,559 shares of the energy producer’s stock valued at $24,905,000 after buying an additional 13,707 shares during the last quarter. Goelzer Investment Management Inc. lifted its position in shares of ConocoPhillips by 4.2% during the 3rd quarter. Goelzer Investment Management Inc. now owns 3,359 shares of the energy producer’s stock valued at $354,000 after buying an additional 136 shares during the last quarter. Harbor Investment Advisory LLC grew its stake in shares of ConocoPhillips by 8.3% during the 3rd quarter. Harbor Investment Advisory LLC now owns 9,769 shares of the energy producer’s stock worth $1,028,000 after acquiring an additional 749 shares during the period. Finally, Quent Capital LLC increased its holdings in ConocoPhillips by 43.4% in the 3rd quarter. Quent Capital LLC now owns 2,277 shares of the energy producer’s stock worth $240,000 after acquiring an additional 689 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on COP. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Susquehanna boosted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, Morgan Stanley assumed coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $135.89.

Insider Activity at ConocoPhillips

In other news, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $98.70 on Monday. The firm has a market capitalization of $113.59 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 0.76 and a beta of 1.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The business’s 50-day moving average price is $101.82 and its 200-day moving average price is $106.59.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period last year, the business earned $2.16 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 7.64 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 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.