Pacer Advisors Inc. Cuts Position in ConocoPhillips $COP

Pacer Advisors Inc. decreased its stake in shares of ConocoPhillips (NYSE:COP) by 14.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,812,983 shares of the energy producer’s stock after selling 644,767 shares during the quarter. ConocoPhillips comprises approximately 0.8% of Pacer Advisors Inc.’s investment portfolio, making the stock its 6th largest holding. Pacer Advisors Inc.’s holdings in ConocoPhillips were worth $503,314,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Patten Group Inc. lifted its position in shares of ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after acquiring an additional 83 shares during the period. IFC Advisors LLC grew its holdings in ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock worth $2,664,000 after purchasing an additional 84 shares during the period. Cornerstone Planning Group LLC increased its stake in ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. increased its stake in ConocoPhillips by 0.4% in the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after purchasing an additional 92 shares in the last quarter. Finally, Sigma Planning Corp raised its holdings in shares of ConocoPhillips by 0.6% during the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock valued at $2,120,000 after purchasing an additional 94 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.1%

ConocoPhillips stock opened at $120.57 on Monday. The firm has a market capitalization of $146.89 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.45 and a beta of 0.11. The firm’s fifty day moving average price is $112.98 and its two-hundred day moving average price is $115.07. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities research analysts predict that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on COP. Morgan Stanley cut their price objective on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating on the stock in a research report on Friday, June 26th. UBS Group decreased their target price on ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a research note on Monday, June 22nd. Wolfe Research increased their price target on ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Finally, Susquehanna raised their price objective on ConocoPhillips from $152.00 to $155.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.16.

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.