Public Employees Retirement System of Ohio Has $55.22 Million Position in ConocoPhillips (NYSE:COP)

Public Employees Retirement System of Ohio trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 1.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 524,455 shares of the energy producer’s stock after selling 6,023 shares during the period. Public Employees Retirement System of Ohio’s holdings in ConocoPhillips were worth $55,215,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nomura Asset Management Co. Ltd. boosted its holdings in shares of ConocoPhillips by 11.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 634,547 shares of the energy producer’s stock valued at $66,805,000 after buying an additional 64,378 shares during the last quarter. Delos Wealth Advisors LLC lifted its stake in ConocoPhillips by 4,285.7% in the third quarter. Delos Wealth Advisors LLC now owns 1,228 shares of the energy producer’s stock valued at $129,000 after acquiring an additional 1,200 shares during the last quarter. Zacks Investment Management raised its holdings in shares of ConocoPhillips by 10.9% in the 3rd quarter. Zacks Investment Management now owns 1,361,469 shares of the energy producer’s stock valued at $143,335,000 after purchasing an additional 134,310 shares during the period. iSAM Funds UK Ltd acquired a new stake in ConocoPhillips in the 3rd quarter valued at about $299,000. Finally, DF Dent & Co. Inc. raised its stake in ConocoPhillips by 88.4% in the third quarter. DF Dent & Co. Inc. now owns 6,223 shares of the energy producer’s stock valued at $655,000 after buying an additional 2,920 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price target for the company from $120.00 to $123.00 in a report on Thursday. Barclays raised their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Evercore ISI reiterated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Finally, Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $139.06.

ConocoPhillips Price Performance

COP stock opened at $103.22 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market cap of $118.80 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.85 and a beta of 1.18. The company’s 50-day moving average price is $108.61 and its two-hundred day moving average price is $110.18. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share 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 analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.16 earnings per share. On average, analysts anticipate that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 3.02%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

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.