Eagle Global Advisors LLC Purchases New Shares in ConocoPhillips (NYSE:COP)

Eagle Global Advisors LLC acquired a new position in ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,955 shares of the energy producer's stock, valued at approximately $1,285,000.

Several other hedge funds have also recently modified their holdings of the company. EP Wealth Advisors LLC lifted its holdings in ConocoPhillips by 18.1% during the fourth quarter. EP Wealth Advisors LLC now owns 45,697 shares of the energy producer's stock worth $4,532,000 after acquiring an additional 7,007 shares during the period. Collar Capital Management LLC bought a new stake in shares of ConocoPhillips during the 4th quarter worth $526,000. CoreCap Advisors LLC boosted its holdings in shares of ConocoPhillips by 19.8% in the 4th quarter. CoreCap Advisors LLC now owns 17,128 shares of the energy producer's stock worth $1,699,000 after buying an additional 2,834 shares during the last quarter. CoreCommodity Management LLC grew its position in ConocoPhillips by 8.6% during the fourth quarter. CoreCommodity Management LLC now owns 47,629 shares of the energy producer's stock valued at $4,723,000 after buying an additional 3,783 shares during the period. Finally, Corigliano Investment Advisers LLC purchased a new stake in ConocoPhillips during the fourth quarter worth about $12,841,000. Institutional investors own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COP. Scotiabank reduced their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. lowered their target price on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Bank of America downgraded ConocoPhillips from a "buy" rating to a "neutral" rating and cut their price target for the stock from $138.00 to $107.00 in a research note on Tuesday, April 29th. Susquehanna set a $136.00 price objective on shares of ConocoPhillips in a report on Tuesday, April 22nd. Finally, TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a "buy" rating and a $125.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $124.79.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $87.68 on Thursday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $124.23. The firm has a market cap of $110.84 billion, a P/E ratio of 11.26, a P/E/G ratio of 0.79 and a beta of 0.64. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $93.19 and a 200-day moving average of $99.66.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current 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.

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