Teachers Retirement System of The State of Kentucky Raises Stock Position in ConocoPhillips (NYSE:COP)

Teachers Retirement System of The State of Kentucky boosted its position in shares of ConocoPhillips (NYSE:COP) by 5.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 327,356 shares of the energy producer’s stock after acquiring an additional 15,738 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in ConocoPhillips were worth $37,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after purchasing an additional 8,479,963 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in ConocoPhillips by 512.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock worth $433,757,000 after acquiring an additional 3,127,165 shares in the last quarter. Capital International Investors grew its stake in shares of ConocoPhillips by 9.6% during 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. Clearbridge Investments LLC increased its holdings in shares of ConocoPhillips by 46.0% during the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock valued at $409,833,000 after acquiring an additional 1,015,158 shares in the last quarter. Finally, TD Asset Management Inc raised its position in shares of ConocoPhillips by 34.7% in the 1st quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock valued at $351,602,000 after purchasing an additional 712,062 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of recent analyst reports. UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna dropped their price objective on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Sanford C. Bernstein lowered their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, Mizuho cut their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.82.

ConocoPhillips Stock Up 0.5 %

COP opened at $105.28 on Tuesday. The company has a fifty day moving average of $108.71 and a two-hundred day moving average of $116.20. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market capitalization of $123.13 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.85 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 EPS. On average, research analysts expect that ConocoPhillips will post 8.14 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.20%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

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.