ConocoPhillips (NYSE:COP) Stock Holdings Lowered by Employees Retirement System of Texas

Employees Retirement System of Texas trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 19.1% in the fourth quarter, HoldingsChannel reports. The institutional investor 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.

Several other hedge funds have also recently added to or reduced their stakes in the business. 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 valued at $25,000 after buying an additional 228 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of ConocoPhillips during the fourth quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in ConocoPhillips in the 4th quarter worth about $27,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips in the fourth quarter worth $32,000. Finally, Global Wealth Strategies & Associates increased its position in ConocoPhillips by 80.5% in the 4th 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. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on COP shares. UBS Group decreased their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Morgan Stanley dropped their target price on shares of ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, Piper Sandler reduced their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Two equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.95.

ConocoPhillips Price Performance

COP opened at $86.18 on Monday. The company has a fifty day moving average price of $98.53 and a two-hundred day moving average price of $103.06. The firm has a market capitalization of $108.95 billion, a PE ratio of 11.06, a P/E/G ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 52 week low of $81.34 and a 52 week 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.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. As a group, analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

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.