Callan Capital LLC Purchases Shares of 3,282 ConocoPhillips (NYSE:COP)

Callan Capital LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the fourth quarter, HoldingsChannel reports. The fund purchased 3,282 shares of the energy producer’s stock, valued at approximately $325,000.

A number of other institutional investors and hedge funds have also bought and sold shares of COP. AMF Tjanstepension AB raised its holdings in ConocoPhillips by 4.7% during the third quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock valued at $122,628,000 after acquiring an additional 52,334 shares during the period. International Assets Investment Management LLC increased its holdings in shares of ConocoPhillips by 10,634.2% in the third quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after purchasing an additional 1,194,434 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips in the third quarter worth about $26,000. Lake Street Advisors Group LLC increased its holdings in shares of ConocoPhillips by 2.1% in the third quarter. Lake Street Advisors Group LLC now owns 8,297 shares of the energy producer’s stock worth $874,000 after purchasing an additional 172 shares during the last quarter. Finally, Parcion Private Wealth LLC increased its holdings in shares of ConocoPhillips by 12.7% in the third quarter. Parcion Private Wealth LLC now owns 13,968 shares of the energy producer’s stock worth $1,471,000 after purchasing an additional 1,572 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Down 4.0 %

Shares of NYSE:COP opened at $97.90 on Friday. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The business has a 50 day simple moving average of $100.11 and a two-hundred day simple moving average of $105.44. The firm has a market capitalization of $124.57 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. 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 announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.19%. ConocoPhillips’s payout ratio is 40.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COP. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $157.00 to $124.00 in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Piper Sandler dropped their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Barclays dropped their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.47.

Insider Activity at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

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.