Parsons Capital Management Inc. RI cut its holdings in ConocoPhillips (NYSE:COP) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,089 shares of the energy producer’s stock after selling 245 shares during the period. Parsons Capital Management Inc. RI owned approximately 3.15% of ConocoPhillips worth $2,335,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in ConocoPhillips by 23.2% during the fourth quarter. Bank of New York Mellon Corp now owns 16,253,068 shares of the energy producer’s stock valued at $649,960,000 after acquiring an additional 3,057,307 shares during the period. Boston Partners boosted its holdings in ConocoPhillips by 17.8% during the fourth quarter. Boston Partners now owns 16,005,135 shares of the energy producer’s stock valued at $640,046,000 after acquiring an additional 2,417,177 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in ConocoPhillips by 12.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,872,369 shares of the energy producer’s stock valued at $554,756,000 after acquiring an additional 1,569,580 shares during the period. Lazard Asset Management LLC boosted its holdings in ConocoPhillips by 29.2% during the fourth quarter. Lazard Asset Management LLC now owns 12,819,227 shares of the energy producer’s stock valued at $512,639,000 after acquiring an additional 2,899,393 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in ConocoPhillips by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,490,872 shares of the energy producer’s stock valued at $219,580,000 after acquiring an additional 80,824 shares during the period. Hedge funds and other institutional investors own 72.87% of the company’s stock.

NYSE COP opened at $52.74 on Tuesday. The firm has a market cap of $71.31 billion, a price-to-earnings ratio of -46.67, a PEG ratio of 10.03 and a beta of 1.85. The company has a 50 day moving average of $52.50 and a 200-day moving average of $44.87. The company has a current ratio of 2.38, a quick ratio of 2.16 and a debt-to-equity ratio of 0.48. ConocoPhillips has a 1-year low of $27.53 and a 1-year high of $61.14.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Monday, February 1st. The energy producer reported ($0.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.06. ConocoPhillips had a negative net margin of 5.66% and a negative return on equity of 0.02%. The company had revenue of $6.05 billion during the quarter, compared to analyst estimates of $4.69 billion. During the same quarter last year, the business posted $0.76 earnings per share. On average, analysts forecast that ConocoPhillips will post -0.9 earnings per share for the current year.

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of ConocoPhillips from $58.00 to $73.00 and gave the company an “overweight” rating in a report on Wednesday, March 17th. KeyCorp upped their price target on shares of ConocoPhillips from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, April 15th. BMO Capital Markets upgraded shares of ConocoPhillips to a “buy” rating and set a $56.00 price target for the company in a report on Monday, January 11th. Truist Financial upped their price objective on shares of ConocoPhillips from $50.00 to $60.00 in a research report on Monday, April 19th. Finally, Truist Securities upped their price objective on shares of ConocoPhillips from $50.00 to $60.00 in a research report on Monday, April 19th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. ConocoPhillips has a consensus rating of “Buy” and an average target price of $55.57.

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 conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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