Gallacher Capital Management LLC Increases Stock Position in ConocoPhillips (NYSE:COP)

Gallacher Capital Management LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 72.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,244 shares of the energy producer’s stock after acquiring an additional 1,778 shares during the quarter. Gallacher Capital Management LLC’s holdings in ConocoPhillips were worth $493,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Sloy Dahl & Holst LLC raised its stake in shares of ConocoPhillips by 3.3% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock worth $315,000 after acquiring an additional 85 shares in the last quarter. KLCM Advisors Inc. lifted its holdings in shares of ConocoPhillips by 2.8% during the 3rd quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after purchasing an additional 89 shares during the last quarter. Evergreen Capital Management LLC raised its stake in ConocoPhillips by 0.5% in the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after buying an additional 89 shares during the last quarter. Endowment Wealth Management Inc. boosted its stake in ConocoPhillips by 4.6% in the 3rd quarter. Endowment Wealth Management Inc. now owns 2,055 shares of the energy producer’s stock worth $246,000 after purchasing an additional 90 shares in the last quarter. Finally, Your Advocates Ltd. LLP lifted its stake in shares of ConocoPhillips by 2.9% during the third quarter. Your Advocates Ltd. LLP now owns 3,340 shares of the energy producer’s stock worth $400,000 after buying an additional 93 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP traded down $0.02 during midday trading on Friday, reaching $122.23. 5,020,657 shares of the company’s stock traded hands, compared to its average volume of 4,434,834. The company has a market cap of $143.79 billion, a P/E ratio of 13.84, a PEG ratio of 2.68 and a beta of 1.25. The company has a fifty day simple moving average of $123.85 and a two-hundred day simple moving average of $117.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.29 and a current ratio of 1.35. ConocoPhillips has a 1 year low of $95.81 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. The business had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. During the same period last year, the firm posted $2.71 earnings per share. Equities analysts predict that ConocoPhillips will post 9.1 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Raymond James decreased their target price on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Wells Fargo & Company boosted their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler increased their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Scotiabank boosted their price objective on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Finally, Barclays initiated coverage on ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.76.

Insiders Place Their Bets

In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The disclosure for this sale can be found here. In the last three months, insiders sold 700,775 shares of company stock worth $87,615,169. Corporate insiders own 0.34% 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.