Callan Family Office LLC Purchases 44,424 Shares of ConocoPhillips $COP

Callan Family Office LLC lifted its position in ConocoPhillips (NYSE:COP) by 247.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in COP. Charles Schwab Investment Management Inc. increased its holdings in shares of ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares during the last quarter. Nuveen LLC bought a new stake in ConocoPhillips during the first quarter worth approximately $658,981,000. AQR Capital Management LLC increased its stake in ConocoPhillips by 190.5% during the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after acquiring an additional 3,058,505 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after acquiring an additional 2,080,625 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in ConocoPhillips by 53.8% during the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock worth $550,334,000 after acquiring an additional 1,834,118 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Down 4.5%

Shares of NYSE:COP opened at $87.83 on Friday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The business has a 50 day simple moving average of $94.60 and a two-hundred day simple moving average of $92.59. The firm has a market capitalization of $109.70 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.44 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results 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. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.98 earnings per share. On average, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. ConocoPhillips’s payout ratio is presently 41.88%.

Wall Street Analysts Forecast Growth

COP has been the topic of several analyst reports. Susquehanna reduced their price objective on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Scotiabank boosted their price objective on ConocoPhillips from $95.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, July 11th. Melius initiated coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective on the stock. Morgan Stanley reissued an “overweight” rating and set a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Finally, Melius Research assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price for the company. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $117.23.

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.