Jaffetilchin Investment Partners LLC Lowers Position in ConocoPhillips (NYSE:COP)

Jaffetilchin Investment Partners LLC cut its holdings in shares of ConocoPhillips (NYSE:COP) by 21.7% in the first quarter, HoldingsChannel.com reports. The firm owned 2,431 shares of the energy producer’s stock after selling 674 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in ConocoPhillips were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of COP. Sachetta LLC purchased a new position in ConocoPhillips during the 4th quarter valued at about $27,000. Cooksen Wealth LLC purchased a new position in ConocoPhillips during the 4th quarter valued at about $27,000. Cape Investment Advisory Inc. boosted its stake in shares of ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after buying an additional 121 shares during the period. Richardson Capital Management LLC purchased a new position in shares of ConocoPhillips in the 1st quarter valued at about $31,000. Finally, Northwest Bank & Trust Co purchased a new position in shares of ConocoPhillips in the 4th quarter valued at about $32,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COP has been the topic of several research analyst reports. Raymond James reissued a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Piper Sandler raised their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Wells Fargo & Company lifted their target price on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Wolfe Research initiated coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Finally, Bank of America reiterated a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.12.

ConocoPhillips Stock Down 3.1 %

Shares of NYSE COP traded down $3.32 on Friday, hitting $105.07. The company had a trading volume of 2,582,134 shares, compared to its average volume of 5,630,852. ConocoPhillips has a 12-month low of $104.64 and a 12-month high of $135.18. The business has a 50 day moving average of $112.98 and a two-hundred day moving average of $117.08. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $122.88 billion, a P/E ratio of 12.12, a PEG ratio of 2.20 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.08). The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 8.73 earnings per share for the current fiscal year.

ConocoPhillips Company Profile

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.