Eagle Asset Management Inc. decreased its stake in ConocoPhillips (NYSE:COP) by 9.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,584 shares of the energy producer’s stock after selling 2,889 shares during the quarter. Eagle Asset Management Inc.’s holdings in ConocoPhillips were worth $1,337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Freestone Capital Holdings LLC boosted its stake in shares of ConocoPhillips by 78.7% in the second quarter. Freestone Capital Holdings LLC now owns 8,047 shares of the energy producer’s stock worth $354,000 after buying an additional 3,543 shares during the last quarter. Point View Wealth Management Inc. boosted its stake in shares of ConocoPhillips by 19.8% in the second quarter. Point View Wealth Management Inc. now owns 32,939 shares of the energy producer’s stock worth $1,448,000 after buying an additional 5,452 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of ConocoPhillips by 16.1% in the second quarter. Toronto Dominion Bank now owns 616,392 shares of the energy producer’s stock worth $27,092,000 after buying an additional 85,538 shares during the last quarter. Korea Investment CORP boosted its stake in shares of ConocoPhillips by 32.8% in the third quarter. Korea Investment CORP now owns 1,026,000 shares of the energy producer’s stock worth $51,351,000 after buying an additional 253,600 shares during the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in shares of ConocoPhillips in the second quarter worth about $26,376,000. Hedge funds and other institutional investors own 69.63% of the company’s stock.

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In other news, Director Charles E. Bunch bought 2,000 shares of ConocoPhillips stock in a transaction on Monday, December 11th. The stock was acquired at an average price of $52.06 per share, with a total value of $104,120.00. Following the completion of the acquisition, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is owned by corporate insiders.

A number of analysts have recently commented on COP shares. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Wednesday, December 13th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a report on Friday, November 3rd. Scotiabank reaffirmed a “buy” rating and issued a $53.00 price target on shares of ConocoPhillips in a report on Wednesday, November 1st. Royal Bank of Canada set a $58.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, Cowen set a $70.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $57.94.

ConocoPhillips (COP) opened at $59.66 on Tuesday. ConocoPhillips has a fifty-two week low of $42.26 and a fifty-two week high of $61.31. The company has a market capitalization of $72,197.21, a P/E ratio of 3,019.50, a price-to-earnings-growth ratio of 2.40 and a beta of 1.26. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.

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ConocoPhillips Profile

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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