Strs Ohio Acquires Shares of 609,302 ConocoPhillips $COP

Strs Ohio bought a new position in ConocoPhillips (NYSE:COP) in the first quarter, HoldingsChannel.com reports. The fund bought 609,302 shares of the energy producer’s stock, valued at approximately $63,989,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Triumph Capital Management increased its holdings in shares of ConocoPhillips by 6.7% in the fourth quarter. Triumph Capital Management now owns 2,364 shares of the energy producer’s stock worth $234,000 after acquiring an additional 149 shares in the last quarter. Focus Partners Wealth grew its stake in ConocoPhillips by 29.5% in the fourth quarter. Focus Partners Wealth now owns 94,406 shares of the energy producer’s stock valued at $9,362,000 after purchasing an additional 21,505 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ConocoPhillips by 22.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 164,252 shares of the energy producer’s stock valued at $16,287,000 after purchasing an additional 29,989 shares in the last quarter. Obermeyer Wealth Partners bought a new position in ConocoPhillips in the fourth quarter valued at approximately $322,000. Finally, Northeast Financial Consultants Inc grew its stake in ConocoPhillips by 2.9% in the fourth quarter. Northeast Financial Consultants Inc now owns 4,361 shares of the energy producer’s stock valued at $432,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on COP shares. Morgan Stanley reiterated an “overweight” rating and set a $123.00 price target (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Melius began coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Wall Street Zen lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Piper Sandler boosted their price target on ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Melius Research started coverage on ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target for the company. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $120.86.

Insider Buying and Selling

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company’s stock, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.24% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $94.20 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market capitalization of $117.65 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 2.42 and a beta of 0.69. The firm’s fifty day moving average price is $94.78 and its two-hundred day moving average price is $93.04. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.98 earnings per share. As a group, analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

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.