Callan Family Office LLC Makes New Investment in ConocoPhillips (NYSE:COP)

Callan Family Office LLC bought a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 21,286 shares of the energy producer’s stock, valued at approximately $2,111,000.

A number of other institutional investors have also added to or reduced their stakes in the business. EagleClaw Capital Managment LLC increased its stake in ConocoPhillips by 7.2% in the 4th quarter. EagleClaw Capital Managment LLC now owns 22,287 shares of the energy producer’s stock worth $2,210,000 after acquiring an additional 1,502 shares during the last quarter. Hartford Funds Management Co LLC increased its stake in ConocoPhillips by 13.0% in the 4th quarter. Hartford Funds Management Co LLC now owns 11,766 shares of the energy producer’s stock worth $1,167,000 after acquiring an additional 1,353 shares during the last quarter. Chatham Capital Group Inc. increased its position in shares of ConocoPhillips by 3.2% during the 4th quarter. Chatham Capital Group Inc. now owns 12,981 shares of the energy producer’s stock valued at $1,287,000 after purchasing an additional 406 shares during the last quarter. Welch & Forbes LLC increased its position in shares of ConocoPhillips by 7.0% during the 4th quarter. Welch & Forbes LLC now owns 27,274 shares of the energy producer’s stock valued at $2,705,000 after purchasing an additional 1,796 shares during the last quarter. Finally, E Fund Management Co. Ltd. increased its position in shares of ConocoPhillips by 40.7% during the 4th quarter. E Fund Management Co. Ltd. now owns 3,137 shares of the energy producer’s stock valued at $311,000 after purchasing an additional 908 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COP has been the topic of several recent research reports. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research report on Thursday, January 30th. TD Cowen initiated coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. Evercore ISI reiterated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Morgan Stanley initiated coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective on the stock. Finally, Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $133.47.

Insider Activity

In other news, 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 in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R A. Walker bought 10,400 shares of the stock in a transaction dated 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 purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Trading Up 2.4 %

NYSE COP opened at $90.70 on Friday. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a 50 day simple moving average of $99.53 and a two-hundred day simple moving average of $104.38. The stock has a market cap of $115.40 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is presently 40.05%.

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.