Callan Family Office LLC Increases Holdings in ConocoPhillips $COP

Callan Family Office LLC increased its holdings in ConocoPhillips (NYSE:COP) by 247.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 62,387 shares of the energy producer’s stock after purchasing an additional 44,424 shares during the quarter. Callan Family Office LLC’s holdings in ConocoPhillips were worth $5,599,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC raised its stake in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares in the last quarter. Stone House Investment Management LLC bought a new position in ConocoPhillips in the first quarter worth approximately $31,000. Garde Capital Inc. bought a new position in ConocoPhillips in the first quarter worth approximately $35,000. IMA Advisory Services Inc. bought a new position in ConocoPhillips in the first quarter worth approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after buying an additional 293 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $87.83 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The stock’s fifty day moving average price is $94.60 and its 200 day moving average price is $92.59. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The company has a market cap of $109.70 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.44 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the prior year, the firm earned $1.98 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. As a group, equities research 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 Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Analysts Set New Price Targets

A number of brokerages recently commented on COP. Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Melius assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Royal Bank Of Canada reduced their price target on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research report on Friday, July 11th. Finally, Piper Sandler upped their price target on ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.23.

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.