Spirit of America Management Corp NY Raises Holdings in ConocoPhillips (NYSE:COP)

Spirit of America Management Corp NY grew its position in ConocoPhillips (NYSE:COP) by 83.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,604 shares of the energy producer’s stock after buying an additional 23,004 shares during the quarter. ConocoPhillips accounts for 1.0% of Spirit of America Management Corp NY’s holdings, making the stock its 27th largest holding. Spirit of America Management Corp NY’s holdings in ConocoPhillips were worth $5,018,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Tidal Investments LLC raised its position in shares of ConocoPhillips by 42.7% in the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after acquiring an additional 31,011 shares in the last quarter. Brookstone Capital Management raised its position in shares of ConocoPhillips by 4.5% in the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after acquiring an additional 383 shares in the last quarter. Prospera Financial Services Inc raised its position in shares of ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after acquiring an additional 13,595 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of ConocoPhillips by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after acquiring an additional 46,621 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Raymond James boosted their price target on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Barclays boosted their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. TD Cowen initiated coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Finally, Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $135.89.

ConocoPhillips Stock Up 2.2 %

Shares of COP opened at $100.61 on Wednesday. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $115.80 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.76 and a beta of 1.18. The stock’s 50-day moving average price is $101.67 and its 200-day moving average price is $106.46.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker bought 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

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.