ConocoPhillips (NYSE:COP) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC cut its stake in ConocoPhillips (NYSE:COP) by 21.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 247,852 shares of the energy producer’s stock after selling 66,399 shares during the period. Calamos Advisors LLC’s holdings in ConocoPhillips were worth $24,579,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after buying an additional 10,663,093 shares during the period. Wellington Management Group LLP lifted its position in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after acquiring an additional 5,240,016 shares during the period. Geode Capital Management LLC grew its stake in ConocoPhillips by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after purchasing an additional 924,289 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of ConocoPhillips by 12.5% in the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after purchasing an additional 1,506,599 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after purchasing an additional 4,656,040 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on COP shares. Barclays increased their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Piper Sandler dropped their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley started coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their target price for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Finally, TD Cowen initiated coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $135.89.

ConocoPhillips Price Performance

COP stock opened at $98.47 on Tuesday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The business has a fifty day moving average of $101.82 and a two-hundred day moving average of $106.59. The stock has a market cap of $113.33 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 0.76 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

Insiders Place Their Bets

In related news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

About ConocoPhillips

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.