ConocoPhillips (NYSE:COP) Shares Acquired by Utah Retirement Systems

Utah Retirement Systems raised its stake in shares of ConocoPhillips (NYSE:COP) by 10.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 214,631 shares of the energy producer’s stock after purchasing an additional 20,881 shares during the period. Utah Retirement Systems’ holdings in ConocoPhillips were worth $21,285,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Albion Financial Group UT increased its position in shares of 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 acquiring an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $32,000. Finally, Global Wealth Strategies & Associates grew its holdings in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP opened at $91.92 on Wednesday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $129.86. 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 company’s fifty day moving average is $94.22 and its two-hundred day moving average is $100.33. The stock has a market capitalization of $116.20 billion, a P/E ratio of 11.80, a P/E/G ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last announced 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 net margin of 16.23% and a return on equity of 17.26%. On average, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.39%. ConocoPhillips’s payout ratio is currently 40.05%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on COP. Morgan Stanley restated an “overweight” rating and issued a $116.00 price objective on shares of ConocoPhillips in a report on Tuesday, April 15th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. TD Cowen assumed 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. Finally, Barclays reduced their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $124.79.

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.