SummitTX Capital L.P. Buys New Position in ConocoPhillips $COP

SummitTX Capital L.P. acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,432 shares of the energy producer’s stock, valued at approximately $717,000.

Other hedge funds have also bought and sold shares of the company. AXA S.A. raised its position in shares of ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after purchasing an additional 40,499 shares during the period. Sei Investments Co. grew its position in ConocoPhillips by 6.1% in the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after purchasing an additional 44,852 shares during the period. BNP Paribas acquired a new stake in ConocoPhillips in the 2nd quarter valued at $33,000. Osterweis Capital Management Inc. bought a new stake in ConocoPhillips during the 2nd quarter valued at $151,000. Finally, Main Street Financial Solutions LLC increased its stake in ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after purchasing an additional 1,675 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on COP shares. Wolfe Research lifted their price target on ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Citigroup increased their price objective on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. BMO Capital Markets dropped their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Scotiabank lifted their target price on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group upped their price target on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips Stock Up 0.7%

COP opened at $118.94 on Friday. The company has a fifty day moving average price of $112.98 and a 200-day moving average price of $114.89. The firm has a market capitalization of $144.90 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 1.43 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the firm posted $2.09 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. Equities research analysts expect that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.