Bragg Financial Advisors Inc Purchases 1,970 Shares of ConocoPhillips (NYSE:COP)

Bragg Financial Advisors Inc raised its position in ConocoPhillips (NYSE:COP) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,489 shares of the energy producer’s stock after buying an additional 1,970 shares during the quarter. Bragg Financial Advisors Inc’s holdings in ConocoPhillips were worth $6,506,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Lenox Wealth Advisors LLC acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $27,000. Smart Portfolios LLC lifted its position in shares of ConocoPhillips by 69.5% in the 4th quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock worth $30,000 after purchasing an additional 196 shares during the period. Clarfeld Financial Advisors LLC acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $32,000. Athena Capital Advisors LLC acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $32,000. Finally, Destination Wealth Management lifted its position in shares of ConocoPhillips by 592.6% in the 1st quarter. Destination Wealth Management now owns 561 shares of the energy producer’s stock worth $37,000 after purchasing an additional 480 shares during the period. 72.09% of the stock is currently owned by hedge funds and other institutional investors.

COP stock traded down $0.60 during midday trading on Friday, reaching $59.90. 4,584,295 shares of the company’s stock traded hands, compared to its average volume of 5,656,971. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.72 and a current ratio of 1.86. The firm has a market capitalization of $67.70 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.00. The firm has a fifty day simple moving average of $60.12. ConocoPhillips has a 52 week low of $56.75 and a 52 week high of $80.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Tuesday, April 30th. The energy producer reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. The firm had revenue of $10.06 billion for the quarter, compared to the consensus estimate of $9.16 billion. ConocoPhillips had a net margin of 18.08% and a return on equity of 16.65%. During the same period in the previous year, the firm earned $0.96 EPS. On average, equities research analysts anticipate that ConocoPhillips will post 4.04 earnings per share for the current year.

A number of brokerages have recently issued reports on COP. ValuEngine upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $74.00 to $80.00 in a research report on Wednesday, June 26th. Morgan Stanley boosted their price target on shares of ConocoPhillips from $83.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Credit Suisse Group downgraded shares of ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price target on the stock. in a research report on Wednesday, May 1st. Finally, Piper Jaffray Companies upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $68.00 to $75.00 in a research note on Thursday, March 21st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. ConocoPhillips has a consensus rating of “Buy” and a consensus target price of $79.21.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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