Campbell & CO Investment Adviser LLC Sells 13,637 Shares of ConocoPhillips $COP

Key Points

• Campbell & CO Investment Adviser LLC sold 13,637 shares of ConocoPhillips, reducing their stake by 42.0% in the first quarter, leaving them with a current holding value of approximately $1.98 million.
• Wall Street analysts have mixed forecasts for ConocoPhillips, with several firms raising their price targets, and the stock currently holding a consensus rating of "Moderate Buy" with an average target price of $120.95.
• ConocoPhillips announced a quarterly dividend of $0.78 per share, representing an annualized yield of 3.2%, with the upcoming payment date set for September 2nd.

Campbell & CO Investment Adviser LLC cut its stake in ConocoPhillips (NYSE:COP - Free Report) by 42.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,861 shares of the energy producer's stock after selling 13,637 shares during the period. Campbell & CO Investment Adviser LLC's holdings in ConocoPhillips were worth $1,981,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in COP. Second Line Capital LLC increased its holdings in shares of ConocoPhillips by 2.2% during the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after purchasing an additional 108 shares during the period. Meiji Yasuda Life Insurance Co lifted its holdings in ConocoPhillips by 1.6% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock worth $703,000 after purchasing an additional 110 shares during the period. LRI Investments LLC grew its position in ConocoPhillips by 3.6% in the 4th quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock valued at $316,000 after buying an additional 110 shares in the last quarter. KLCM Advisors Inc. grew its position in ConocoPhillips by 2.6% in the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock valued at $473,000 after buying an additional 115 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators increased its stake in ConocoPhillips by 3.9% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock valued at $334,000 after buying an additional 118 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE COP traded up $0.62 during trading on Thursday, hitting $98.52. The company's stock had a trading volume of 4,240,942 shares, compared to its average volume of 8,038,325. The firm has a market cap of $123.05 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 2.54 and a beta of 0.67. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The firm has a 50 day moving average price of $93.98 and a 200 day moving average price of $93.24.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating 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 business had revenue of $14.94 billion for the quarter, compared to analysts' expectations of $14.39 billion. During the same period in the previous year, the business posted $1.98 earnings per share. ConocoPhillips's quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is 41.88%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of research analyst reports. UBS Group upped their price target on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Piper Sandler raised their price objective on shares of ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Morgan Stanley reiterated an "overweight" rating and set a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Raymond James Financial raised their price objective on shares of ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Finally, Mizuho lowered their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.95.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson bought 5,300 shares of the business's stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.24% of the company's stock.

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.