Illinois Municipal Retirement Fund Sells 25,744 Shares of ConocoPhillips (NYSE:COP)

Illinois Municipal Retirement Fund decreased its position in shares of ConocoPhillips (NYSE:COP) by 10.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,785 shares of the energy producer’s stock after selling 25,744 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in ConocoPhillips were worth $22,137,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after purchasing an additional 5,549,078 shares during the last quarter. Capital International Investors lifted its stake in ConocoPhillips by 4.9% during the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer’s stock worth $3,101,989,000 after purchasing an additional 1,473,027 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 2.1%

COP opened at $90.88 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40. The company has a fifty day moving average of $89.93 and a 200-day moving average of $95.15. The stock has a market cap of $114.89 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 2.41 and a beta of 0.61. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period last year, the business posted $2.05 EPS. On average, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COP. Piper Sandler reduced their price objective on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. Scotiabank reduced their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Wells Fargo & Company reissued an “overweight” rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday. Finally, Mizuho decreased their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $121.50.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president now owns 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.

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.