Employees Retirement System of Texas Reduces Holdings in ConocoPhillips (NYSE:COP)

Employees Retirement System of Texas lessened its position in shares of ConocoPhillips (NYSE:COP) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,990 shares of the energy producer’s stock after selling 5,650 shares during the quarter. Employees Retirement System of Texas’ holdings in ConocoPhillips were worth $23,791,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in COP. Albion Financial Group UT boosted its position in shares of ConocoPhillips by 876.9% during the 4th 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 period. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips in the fourth quarter valued at $26,000. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips during the 4th quarter worth $27,000. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips in the fourth quarter valued at $32,000. Finally, Global Wealth Strategies & Associates grew 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 worth $34,000 after purchasing an additional 153 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 9.5 %

NYSE:COP opened at $86.18 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 12 month low of $81.34 and a 12 month high of $135.18. The firm has a market capitalization of $108.95 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The business’s 50-day moving average is $98.53 and its two-hundred day moving average is $103.06.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Analysts Set New Price Targets

COP has been the subject of a number of research analyst reports. Barclays decreased their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Truist Financial lifted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Piper Sandler decreased their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Wells Fargo & Company reduced their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.95.

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.