New Mexico Educational Retirement Board Acquires 4,988 Shares of ConocoPhillips (NYSE:COP)

New Mexico Educational Retirement Board boosted its holdings in ConocoPhillips (NYSE:COP) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,198 shares of the energy producer’s stock after purchasing an additional 4,988 shares during the quarter. New Mexico Educational Retirement Board’s holdings in ConocoPhillips were worth $6,168,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in COP. Albion Financial Group UT increased its holdings in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips during the third quarter valued at approximately $26,000. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates increased its holdings in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP opened at $96.39 on Friday. The stock has a market capitalization of $110.93 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29. The stock’s 50-day simple moving average is $100.58 and its 200 day simple moving average is $105.85. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Research analysts forecast that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.24%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Analysts Set New Price Targets

Several brokerages recently issued reports on COP. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Barclays decreased their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Wells Fargo & Company decreased their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Piper Sandler decreased their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.56.

Insiders Place Their Bets

In other news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The shares were 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 in the company, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

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.