Cullinan Associates Inc. Has $2.20 Million Holdings in ConocoPhillips (NYSE:COP)

Cullinan Associates Inc. lowered its stake in ConocoPhillips (NYSE:COP) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,132 shares of the energy producer’s stock after selling 847 shares during the quarter. Cullinan Associates Inc.’s holdings in ConocoPhillips were worth $2,195,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its holdings in 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 last quarter. Wellington Management Group LLP lifted its stake in ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the last quarter. Geode Capital Management LLC grew its holdings in ConocoPhillips by 3.9% during the third 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 period. Franklin Resources Inc. grew its stake in shares of ConocoPhillips by 12.5% during the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after acquiring an additional 1,506,599 shares during the period. Finally, Fisher Asset Management LLC boosted its position in ConocoPhillips by 59.7% during 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 period. 82.36% of the stock is owned by institutional investors.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, 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.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $98.47 on Tuesday. The stock’s fifty day moving average is $101.82 and its 200 day moving average is $106.59. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. 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 cap of $113.33 billion, a P/E ratio of 11.71, a P/E/G ratio of 0.76 and a beta of 1.18.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on COP shares. Truist Financial increased their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company decreased their price target on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Raymond James boosted their price objective on shares of ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Morgan Stanley began coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target on the stock. Two 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. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $135.89.

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.