Calamos Advisors LLC Trims Holdings in ConocoPhillips (NYSE:COP)

Calamos Advisors LLC reduced its stake in ConocoPhillips (NYSE:COP) by 21.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 247,852 shares of the energy producer’s stock after selling 66,399 shares during the quarter. Calamos Advisors LLC’s holdings in ConocoPhillips were worth $24,579,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Albion Financial Group UT grew its position in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares during the period. Values First Advisors Inc. purchased a new position in ConocoPhillips in the third quarter valued at $26,000. Reston Wealth Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth about $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips in the 3rd quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates boosted its stake in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on COP shares. Susquehanna raised their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Truist Financial raised their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Finally, Scotiabank cut their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $135.89.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $98.47 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a market cap of $113.33 billion, a PE ratio of 11.71, a P/E/G ratio of 0.76 and a beta of 1.18. The stock has a fifty day moving average price of $101.82 and a 200 day moving average price of $106.59. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18.

ConocoPhillips 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.