Cetera Advisor Networks LLC cut its position in ConocoPhillips (NYSE:COP) by 7.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 39,064 shares of the energy producer’s stock after selling 2,983 shares during the quarter. Cetera Advisor Networks LLC’s holdings in ConocoPhillips were worth $1,961,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of COP. Financial Management Professionals Inc. raised its position in shares of ConocoPhillips by 0.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,294 shares of the energy producer’s stock valued at $100,000 after buying an additional 6 shares in the last quarter. Krilogy Financial LLC raised its position in shares of ConocoPhillips by 48.6% in the 2nd quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after buying an additional 782 shares in the last quarter. Rocky Mountain Advisers LLC raised its position in shares of ConocoPhillips by 140.2% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after buying an additional 1,396 shares in the last quarter. Clear Perspective Advisors LLC raised its position in shares of ConocoPhillips by 75.5% in the 2nd quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after buying an additional 1,200 shares in the last quarter. Finally, Lloyds Banking Group plc acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at approximately $127,000. Institutional investors own 69.73% of the company’s stock.

ConocoPhillips (NYSE:COP) opened at $59.75 on Friday. The stock has a market cap of $71,430.00, a P/E ratio of -30.03, a P/E/G ratio of 2.59 and a beta of 1.26. ConocoPhillips has a 12-month low of $42.26 and a 12-month high of $60.24. The company has a current ratio of 2.38, a quick ratio of 2.23 and a debt-to-equity ratio of 0.64.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the prior year, the company posted ($0.66) EPS. analysts anticipate that ConocoPhillips will post 0.57 earnings per share for the current year.

In other ConocoPhillips news, Director Charles E. Bunch purchased 2,000 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was purchased at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the transaction, the director now owns 3,429 shares in the company, valued at approximately $178,513.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

COP has been the subject of several analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $54.00 target price on shares of ConocoPhillips in a research report on Friday, September 29th. Scotiabank reiterated a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research report on Friday, September 29th. Piper Jaffray Companies reiterated a “buy” rating and set a $53.00 price objective on shares of ConocoPhillips in a research report on Friday, November 3rd. Goldman Sachs Group upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Wednesday, December 13th. Finally, Cowen set a $70.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $56.35.

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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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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