Econ Financial Services Corp Takes Position in ConocoPhillips (NYSE:COP)

Econ Financial Services Corp purchased a new stake in ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,413 shares of the energy producer’s stock, valued at approximately $2,619,000. ConocoPhillips makes up approximately 1.5% of Econ Financial Services Corp’s portfolio, making the stock its 19th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth about $26,000. Albion Financial Group UT grew its position in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of ConocoPhillips during the third quarter worth approximately $35,000. 82.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research analyst reports. Morgan Stanley began coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Wells Fargo & Company lowered their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI restated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Finally, Barclays upped their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $135.89.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $100.61 on Wednesday. The stock has a market capitalization of $115.80 billion, a P/E ratio of 11.96, a P/E/G 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 1-year low of $94.23 and a 1-year high of $135.18. The business has a 50-day moving average price of $101.54 and a two-hundred day moving average price of $106.36.

Insider Activity

In other news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The shares were bought at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were acquired 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 represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

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.