Campbell Newman Asset Management Inc. Sells 22,584 Shares of ConocoPhillips (NYSE:COP)

Campbell Newman Asset Management Inc. trimmed its stake in ConocoPhillips (NYSE:COP - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 301,168 shares of the energy producer's stock after selling 22,584 shares during the period. ConocoPhillips makes up approximately 2.4% of Campbell Newman Asset Management Inc.'s portfolio, making the stock its 16th biggest holding. Campbell Newman Asset Management Inc.'s holdings in ConocoPhillips were worth $29,867,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Values First Advisors Inc. bought a new position in ConocoPhillips in the third quarter valued at $26,000. Reston Wealth Management LLC bought a new position in ConocoPhillips during the 3rd quarter valued at approximately $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth approximately $31,000. Global Wealth Strategies & Associates grew its position in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer's stock worth $34,000 after buying an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of ConocoPhillips during the third quarter valued at approximately $35,000. 82.36% of the stock is currently owned by institutional investors.

Insider Activity at ConocoPhillips

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley started coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an "overweight" rating and a $128.00 price target for the company. Evercore ISI reaffirmed an "outperform" rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. BMO Capital Markets increased their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a "positive" rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised shares of ConocoPhillips from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $136.65.

ConocoPhillips Stock Performance

Shares of NYSE COP traded up $0.41 during midday trading on Wednesday, hitting $105.29. 247,101 shares of the company's stock traded hands, compared to its average volume of 5,149,102. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market capitalization of $121.18 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19. The firm has a fifty day moving average of $104.21 and a 200 day moving average of $107.56. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips's revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.16 EPS. On average, analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a dividend of $0.78 per share. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Friday, November 8th. ConocoPhillips's payout ratio is presently 37.10%.

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.

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