Pacer Advisors Inc. Has $503.31 Million Position in ConocoPhillips $COP

Pacer Advisors Inc. decreased its position in shares of ConocoPhillips (NYSE:COP) by 14.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,812,983 shares of the energy producer’s stock after selling 644,767 shares during the quarter. ConocoPhillips makes up approximately 0.8% of Pacer Advisors Inc.’s portfolio, making the stock its 6th biggest position. Pacer Advisors Inc. owned 0.31% of ConocoPhillips worth $503,314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Patten Group Inc. boosted its stake in shares of ConocoPhillips by 1.5% during the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after purchasing an additional 83 shares in the last quarter. IFC Advisors LLC increased its stake in shares of ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after buying an additional 84 shares during the period. Cornerstone Planning Group LLC increased its stake in shares of 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 buying an additional 88 shares during the period. Blue Trust Inc. raised its holdings in ConocoPhillips by 0.4% in the 1st quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after buying an additional 92 shares during the last quarter. Finally, Sigma Planning Corp raised its holdings in ConocoPhillips by 0.6% in the 1st quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock valued at $2,120,000 after buying an additional 94 shares during the last quarter. 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 cap of $146.89 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.45 and a beta of 0.11. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a 50 day moving average price of $112.98 and a two-hundred day moving average price of $115.07.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the firm posted $2.09 EPS. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Equities analysts predict that ConocoPhillips will post 9.2 EPS for the current year.

Wall Street Analyst Weigh In

COP has been the topic of a number of research reports. Truist Financial reduced their target price on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. Barclays raised their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group cut their price target on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. UBS Group reduced their price objective on shares of ConocoPhillips from $155.00 to $143.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Finally, Scotiabank increased their price objective on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $134.16.

About ConocoPhillips

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.