Blue Fin Capital Inc. Reduced Holding in ConocoPhillips (COP)

Blue Fin Capital Inc. Reduced Holding in ConocoPhillips (COP)

Blue Fin Capital Inc. cut its holdings in ConocoPhillips (NYSE:COP) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,358 shares of the energy producer’s stock after selling 282 shares during the quarter. Blue Fin Capital Inc.’s holdings in ConocoPhillips were worth $879,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in ConocoPhillips by 165.9% in the second quarter. Janus Henderson Group PLC now owns 1,034,689 shares of the energy producer’s stock worth $72,038,000 after purchasing an additional 645,558 shares during the period. Korea Investment CORP boosted its holdings in ConocoPhillips by 15.3% in the 2nd quarter. Korea Investment CORP now owns 1,260,531 shares of the energy producer’s stock valued at $87,758,000 after purchasing an additional 166,900 shares during the period. Captrust Financial Advisors boosted its holdings in ConocoPhillips by 283.2% in the 2nd quarter. Captrust Financial Advisors now owns 15,663 shares of the energy producer’s stock valued at $1,090,000 after purchasing an additional 11,576 shares during the period. Advisors Capital Management LLC boosted its holdings in ConocoPhillips by 4.3% in the 2nd quarter. Advisors Capital Management LLC now owns 227,703 shares of the energy producer’s stock valued at $15,853,000 after purchasing an additional 9,389 shares during the period. Finally, BlueMountain Capital Management LLC boosted its holdings in ConocoPhillips by 23.1% in the 2nd quarter. BlueMountain Capital Management LLC now owns 203,954 shares of the energy producer’s stock valued at $14,199,000 after purchasing an additional 38,289 shares during the period. 71.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:COP traded down $2.10 during trading on Friday, reaching $65.84. The stock had a trading volume of 3,391,773 shares, compared to its average volume of 6,180,144. The firm has a market cap of $76.50 billion, a P/E ratio of 109.73, a P/E/G ratio of 1.86 and a beta of 1.14. ConocoPhillips has a 52 week low of $50.18 and a 52 week high of $80.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.82 and a current ratio of 1.99.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 25th. The energy producer reported $1.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.19. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.48 billion. ConocoPhillips had a net margin of 16.08% and a return on equity of 14.62%. As a group, sell-side analysts anticipate that ConocoPhillips will post 4.47 earnings per share for the current year.

A number of analysts have issued reports on COP shares. Morgan Stanley set a $88.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a report on Friday, October 12th. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Monday, October 8th. Citigroup boosted their target price on shares of ConocoPhillips from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, October 5th. BMO Capital Markets set a $78.00 price objective on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Monday, November 12th. Finally, Bank of America upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. ConocoPhillips presently has an average rating of “Buy” and an average target price of $76.12.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

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