ConocoPhillips (NYSE:COP) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of ConocoPhillips (NYSE:COP) by 9.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 2,294,366 shares of the energy producer’s stock after selling 248,833 shares during the period. New York State Common Retirement Fund owned approximately 0.19% of ConocoPhillips worth $266,307,000 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. Capital Investment Counsel Inc acquired a new position in ConocoPhillips during the 3rd quarter worth approximately $228,000. Columbia Trust Co 01012016 lifted its position in ConocoPhillips by 1.2% during the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after acquiring an additional 112 shares in the last quarter. Raymond James & Associates lifted its position in ConocoPhillips by 1.5% during the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after acquiring an additional 23,572 shares in the last quarter. Syon Capital LLC acquired a new position in ConocoPhillips during the 3rd quarter worth approximately $2,262,000. Finally, PFG Investments LLC acquired a new position in ConocoPhillips during the 3rd quarter worth approximately $233,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on COP. Morgan Stanley lifted their price objective on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Susquehanna lifted their price objective on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday. Barclays began coverage on ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective on the stock. Piper Sandler lifted their price objective on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Truist Financial dropped their price objective on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given 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 $143.24.

Insider Transactions at ConocoPhillips

In related news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the transaction, the chief financial officer now directly owns 44,153 shares in the company, valued at $5,444,947.96. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 over the last three months. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP traded down $0.05 during midday trading on Monday, reaching $129.33. 4,184,243 shares of the company traded hands, compared to its average volume of 5,418,109. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18. The firm has a market capitalization of $152.14 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 2.73 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The company has a fifty day moving average price of $120.56 and a 200 day moving average price of $117.20.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the previous year, the firm posted $2.71 EPS. On average, analysts expect that ConocoPhillips will post 9.47 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.41%. ConocoPhillips’s payout ratio is 25.61%.

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.