ConocoPhillips (NYSE:COP) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in shares of ConocoPhillips (NYSE:COP) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,090,702 shares of the energy producer’s stock after selling 64,333 shares during the quarter. New York State Teachers Retirement System’s holdings in ConocoPhillips were worth $114,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in ConocoPhillips by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the last quarter. Capital International Investors boosted its position in shares of ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after acquiring an additional 1,856,085 shares during the last quarter. Legal & General Group Plc grew its holdings in ConocoPhillips by 4.6% in the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock valued at $1,132,430,000 after purchasing an additional 438,241 shares during the period. Diamond Hill Capital Management Inc. increased its position in ConocoPhillips by 2.0% during the second quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock worth $653,065,000 after purchasing an additional 109,885 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of ConocoPhillips by 10.3% in the 1st quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock valued at $567,111,000 after purchasing an additional 415,878 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.6 %

Shares of ConocoPhillips stock traded up $0.57 on Wednesday, hitting $102.89. 665,176 shares of the company’s stock traded hands, compared to its average volume of 5,844,680. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The firm’s 50-day moving average is $108.15 and its 200 day moving average is $113.27. The stock has a market cap of $119.48 billion, a P/E ratio of 11.41, a PEG ratio of 0.85 and a beta of 1.21. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period last year, the business earned $1.84 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts anticipate that ConocoPhillips will post 7.85 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 25.86%.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of research analyst reports. Scotiabank cut their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Truist Financial decreased their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. BMO Capital Markets raised their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Mizuho dropped their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, UBS Group reduced their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.94.

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.