Peak Asset Management LLC raised its stake in ConocoPhillips (NYSE:COP) by 10.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,114 shares of the energy producer’s stock after acquiring an additional 9,074 shares during the period. ConocoPhillips makes up 1.6% of Peak Asset Management LLC’s portfolio, making the stock its 24th biggest position. Peak Asset Management LLC’s holdings in ConocoPhillips were worth $4,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lowe Brockenbrough & Co. Inc. lifted its stake in shares of ConocoPhillips by 39.7% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 21,473 shares of the energy producer’s stock worth $944,000 after buying an additional 6,103 shares in the last quarter. Rand Wealth LLC grew its holdings in shares of ConocoPhillips by 10.6% during the second quarter. Rand Wealth LLC now owns 37,638 shares of the energy producer’s stock valued at $1,655,000 after buying an additional 3,619 shares during the last quarter. Korea Investment CORP grew its holdings in shares of ConocoPhillips by 1.6% during the second quarter. Korea Investment CORP now owns 772,400 shares of the energy producer’s stock valued at $33,955,000 after buying an additional 12,448 shares during the last quarter. YHB Investment Advisors Inc. grew its holdings in shares of ConocoPhillips by 37.7% during the second quarter. YHB Investment Advisors Inc. now owns 13,299 shares of the energy producer’s stock valued at $585,000 after buying an additional 3,642 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of ConocoPhillips by 11.6% during the second quarter. Sei Investments Co. now owns 344,876 shares of the energy producer’s stock valued at $15,161,000 after buying an additional 35,972 shares during the last quarter. 68.90% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on COP. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $54.00 price objective on shares of ConocoPhillips in a research report on Friday, September 29th. Scotiabank reiterated a “buy” rating and set a $53.00 target price on shares of ConocoPhillips in a research note on Friday, September 29th. J P Morgan Chase & Co reissued an “overweight” rating on shares of ConocoPhillips in a report on Saturday, September 16th. BidaskClub raised ConocoPhillips from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Zacks Investment Research upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $54.53.

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ConocoPhillips (NYSE COP) opened at 49.24 on Wednesday. The company’s market capitalization is $59.92 billion. The company’s 50 day moving average price is $45.85 and its 200-day moving average price is $45.85. ConocoPhillips has a 52 week low of $40.37 and a 52 week high of $53.17.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.16. The company had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same period last year, the firm earned ($0.79) EPS. Equities research analysts expect that ConocoPhillips will post $0.27 earnings per share for the current year.

ConocoPhillips Company 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.

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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