Ashton Thomas Private Wealth LLC Has $4.36 Million Stake in ConocoPhillips $COP

Ashton Thomas Private Wealth LLC cut its position in shares of ConocoPhillips (NYSE:COP) by 35.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,129 shares of the energy producer’s stock after selling 25,479 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in ConocoPhillips were worth $4,363,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Primecap Management Co. CA raised its position in shares of ConocoPhillips by 66.0% in the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock worth $707,461,000 after acquiring an additional 3,135,315 shares in the last quarter. Ameriprise Financial Inc. grew its stake in ConocoPhillips by 31.4% during the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after purchasing an additional 2,575,803 shares during the period. First Trust Advisors LP increased its holdings in ConocoPhillips by 146.6% in the second quarter. First Trust Advisors LP now owns 2,315,757 shares of the energy producer’s stock worth $207,816,000 after purchasing an additional 1,376,509 shares in the last quarter. Laurel Wealth Advisors LLC lifted its stake in ConocoPhillips by 8,148.3% in the second quarter. Laurel Wealth Advisors LLC now owns 917,788 shares of the energy producer’s stock valued at $82,362,000 after buying an additional 906,661 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of ConocoPhillips by 18.0% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 4,565,154 shares of the energy producer’s stock worth $409,677,000 after buying an additional 697,700 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on shares of ConocoPhillips from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Wells Fargo & Company assumed coverage on shares of ConocoPhillips in a report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price target for the company. Mizuho lifted their price target on shares of ConocoPhillips from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Susquehanna increased their price objective on shares of ConocoPhillips from $110.00 to $115.00 and gave the stock a “positive” rating in a research report on Monday, January 26th. Finally, Johnson Rice downgraded ConocoPhillips from an “accumulate” rating to a “hold” rating and reduced their target price for the company from $108.00 to $105.00 in a research note on Friday, December 5th. Sixteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.96.

ConocoPhillips Stock Up 2.6%

Shares of NYSE COP opened at $107.63 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.18. The company has a 50-day moving average price of $95.76 and a 200-day moving average price of $93.52. The stock has a market capitalization of $133.00 billion, a P/E ratio of 15.22 and a beta of 0.32. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $108.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.20. The business had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 EPS. On average, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

Insider Activity at ConocoPhillips

In related news, Director William H. Mcraven purchased 5,768 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the acquisition, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the transaction, the chief executive officer owned 325,972 shares in the company, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips 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.