ConocoPhillips (NYSE:COP) Shares Sold by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. cut its holdings in shares of ConocoPhillips (NYSE:COP) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 261,989 shares of the energy producer’s stock after selling 10,693 shares during the period. Clark Capital Management Group Inc.’s holdings in ConocoPhillips were worth $25,981,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Orrstown Financial Services Inc. increased its holdings in shares of ConocoPhillips by 3.0% during the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after purchasing an additional 96 shares during the period. Principle Wealth Partners LLC increased its stake in ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock valued at $3,695,000 after buying an additional 100 shares during the period. Arlington Trust Co LLC raised its position in shares of ConocoPhillips by 1.2% during the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock worth $857,000 after buying an additional 102 shares in the last quarter. Courier Capital LLC lifted its stake in shares of ConocoPhillips by 0.5% in the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock worth $2,031,000 after acquiring an additional 103 shares during the period. Finally, Gray Wealth Management Inc. boosted its holdings in shares of ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock valued at $215,000 after acquiring an additional 104 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on COP. Barclays dropped their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a report on Thursday, January 30th. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Bank of America cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $138.00 to $107.00 in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $124.79.

ConocoPhillips Price Performance

NYSE COP opened at $88.97 on Friday. The company has a 50 day simple moving average of $93.12 and a 200-day simple moving average of $99.55. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $124.23. The firm has a market capitalization of $112.47 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The company had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same quarter last year, the business posted $2.05 EPS. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.