Teacher Retirement System of Texas Decreases Stake in ConocoPhillips (NYSE:COP)

Teacher Retirement System of Texas decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 27.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 239,880 shares of the energy producer’s stock after selling 89,974 shares during the quarter. Teacher Retirement System of Texas’ holdings in ConocoPhillips were worth $23,789,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in COP. Albion Financial Group UT lifted its stake in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips during the fourth quarter worth approximately $27,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips during the third quarter worth approximately $31,000. Global Wealth Strategies & Associates increased its position in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new position in ConocoPhillips during the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.3 %

COP opened at $102.05 on Friday. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock’s fifty day moving average is $99.21 and its 200-day moving average is $103.45. The company has a market capitalization of $129.84 billion, a PE ratio of 13.10, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) 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%. On average, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. ConocoPhillips’s dividend payout ratio is 40.05%.

Analyst Ratings Changes

Several research firms have commented on COP. TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. UBS Group cut their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Truist Financial lifted their price target 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 cut their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $133.05.

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.