ConocoPhillips (NYSE:COP) Holdings Decreased by Callan Family Office LLC

Key Points

• Callan Family Office LLC has decreased its position in ConocoPhillips by 15.6%, now holding 17,963 shares valued at approximately $1.89 million.
• ConocoPhillips reported $1.42 EPS for the last quarter, outperforming analysts' expectations, with revenue also exceeding projections at $14.94 billion.
• The company announced a quarterly dividend of $0.78 per share, resulting in a 3.3% yield, with a dividend payout ratio of 41.88%.

Callan Family Office LLC lowered its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,963 shares of the energy producer's stock after selling 3,323 shares during the quarter. Callan Family Office LLC's holdings in ConocoPhillips were worth $1,886,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. 10Elms LLP purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $28,000. Stone House Investment Management LLC purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $31,000. Garde Capital Inc. purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $35,000. IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $37,000. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% 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 hyperlink. Company insiders own 0.24% of the company's stock.

ConocoPhillips Stock Down 0.3%

COP traded down $0.26 on Friday, reaching $95.39. The company's stock had a trading volume of 6,561,919 shares, compared to its average volume of 6,870,423. The stock has a market cap of $119.14 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 2.49 and a beta of 0.67. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. 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 business's 50 day moving average is $93.61 and its 200 day moving average is $93.46.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter last year, the business posted $1.98 EPS. ConocoPhillips's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. ConocoPhillips's dividend payout ratio (DPR) is 41.88%.

Analysts Set New Price Targets

A number of research analysts have weighed in on COP shares. Morgan Stanley restated an "overweight" rating and issued a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Bank of America decreased their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Barclays cut their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Roth Capital reaffirmed a "buy" rating and issued a $108.00 target price on shares of ConocoPhillips in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada cut their price objective on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research report on Friday, July 11th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.84.

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.