Calamos Advisors LLC Sells 2,802 Shares of ConocoPhillips (NYSE:COP)

Calamos Advisors LLC lessened its position in shares of ConocoPhillips (NYSE:COP) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 333,246 shares of the energy producer’s stock after selling 2,802 shares during the period. Calamos Advisors LLC’s holdings in ConocoPhillips were worth $38,680,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its stake in shares of ConocoPhillips by 98,832.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after buying an additional 8,575,696 shares during the period. Morgan Stanley boosted its stake in shares of ConocoPhillips by 26.6% in the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after buying an additional 3,497,750 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in shares of ConocoPhillips in the third quarter valued at approximately $310,102,000. Cowa LLC boosted its stake in shares of ConocoPhillips by 6,475.2% in the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock valued at $2,383,000 after buying an additional 2,339,100 shares during the period. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $186,330,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Susquehanna cut their price target on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Scotiabank boosted their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Truist Financial lowered their price target on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a report on Friday, April 5th. Barclays started coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target on the stock. Finally, Raymond James dropped their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

Insider Activity

In other news, CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the sale, the chief financial officer now owns 44,153 shares in the company, valued at approximately $5,444,947.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 700,775 shares of company stock worth $87,615,169. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Trading Down 0.4 %

COP traded down $0.52 on Thursday, reaching $127.81. 3,578,167 shares of the company traded hands, compared to its average volume of 5,453,397. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. The firm has a fifty day simple moving average of $119.92 and a two-hundred day simple moving average of $117.01. The company has a market cap of $150.36 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 2.77 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same quarter last year, the business posted $2.71 EPS. As a group, equities research analysts expect that ConocoPhillips will post 9.35 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 annualized dividend and a dividend yield of 2.44%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.61%.

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.