Encompass Capital Advisors LLC Sells 629,636 Shares of ConocoPhillips (NYSE:COP)

Encompass Capital Advisors LLC lowered its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 81.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,704 shares of the energy producer's stock after selling 629,636 shares during the quarter. Encompass Capital Advisors LLC's holdings in ConocoPhillips were worth $13,854,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of COP. Vanguard Group Inc. raised its position in shares of ConocoPhillips by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after buying an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after acquiring an additional 5,549,078 shares during the last quarter. Invesco Ltd. lifted its stake in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of ConocoPhillips by 401.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer's stock valued at $438,690,000 after purchasing an additional 3,541,504 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of ConocoPhillips by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

COP has been the subject of a number of research reports. Morgan Stanley reissued an "overweight" rating and set a $116.00 price target on shares of ConocoPhillips in a research note on Tuesday, April 15th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a research report on Thursday, January 30th. Bank of America cut shares of ConocoPhillips from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $138.00 to $107.00 in a research report on Tuesday, April 29th. JPMorgan Chase & Co. lowered their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Three 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $124.79.

ConocoPhillips Trading Up 1.4 %

Shares of NYSE COP opened at $88.97 on Friday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $124.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The company has a market cap of $112.47 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.79 and a beta of 0.64. The business's 50 day moving average price is $93.12 and its 200-day moving average price is $99.55.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period last year, the company earned $2.05 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Company 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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