New York State Teachers Retirement System Sells 14,522 Shares of ConocoPhillips $COP

New York State Teachers Retirement System lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,067,016 shares of the energy producer’s stock after selling 14,522 shares during the quarter. New York State Teachers Retirement System’s holdings in ConocoPhillips were worth $100,929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of ConocoPhillips by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock worth $3,623,946,000 after purchasing an additional 287,970 shares during the period. Fisher Asset Management LLC raised its stake in ConocoPhillips by 1.6% in the second quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock worth $1,291,706,000 after buying an additional 224,201 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in ConocoPhillips by 31.4% in the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after buying an additional 2,575,803 shares during the period. Primecap Management Co. CA boosted its position in ConocoPhillips by 66.0% during the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after acquiring an additional 3,135,315 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of ConocoPhillips by 4.0% during the 2nd quarter. Boston Partners now owns 6,424,232 shares of the energy producer’s stock worth $577,471,000 after acquiring an additional 244,810 shares during the period. Institutional investors own 82.36% of the company’s stock.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ CEO Ryan Lance will attend the White House meeting on Venezuela, putting COP in direct discussions about potential access to Venezuelan oil assets and future investment opportunities. Reuters: ConocoPhillips says CEO will attend White House meeting
• Positive Sentiment: President Trump stated oil companies would spend roughly $100 billion to rebuild Venezuela’s energy sector and indicated the U.S. would decide which firms can operate there — a large potential investment pool for participating majors like COP. Trump: Oil companies will spend $100 billion in Venezuela
• Neutral Sentiment: U.S. energy officials say ConocoPhillips and peers are evaluating what role they could play in Venezuela; this is an exploratory phase with no guarantees of contracts or timing. Financial Post: ConocoPhillips and Exxon look at Venezuela role
• Neutral Sentiment: U.S. Treasury commentary suggests the largest oil companies will likely move more cautiously into Venezuela than independents, implying COP may be slower to deploy capital despite big potential opportunities. Reuters: Bessent says largest oil companies likely move slower
• Negative Sentiment: Analysts are trimming targets on COP: Bernstein cut its price target to $98 (from $116), signaling lowered near-term expectations despite keeping an Outperform rating. InsiderMonkey: Bernstein trims price target on ConocoPhillips
• Negative Sentiment: Wolfe Research also lowered its price target, reflecting analyst caution that may pressure the stock until clarity on cash flows or clear commitments emerge. AmericanBankingNews: Wolfe Research Cuts ConocoPhillips Price Target
• Negative Sentiment: Reports that U.S. oil companies want “serious guarantees” from Washington before making large Venezuelan investments highlight legal/regulatory risk that could delay or limit COP’s participation. Reuters: US oil companies say they need guarantees to invest in Venezuela

ConocoPhillips Price Performance

COP opened at $97.44 on Friday. The stock has a 50-day moving average price of $91.60 and a 200-day moving average price of $92.65. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.18. The firm has a market cap of $120.40 billion, a PE ratio of 13.78, a P/E/G ratio of 2.63 and a beta of 0.32. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $106.20.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. The company had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. ConocoPhillips’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. Sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.52%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research analyst reports. Mizuho raised their target price on ConocoPhillips from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Royal Bank Of Canada upped their price target on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Evercore ISI lowered their price objective on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Monday, October 6th. Wells Fargo & Company started coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 target price on the stock. Finally, Morgan Stanley decreased their price target on shares of ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating for the company in a research note on Thursday, November 20th. Nineteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $112.96.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 500,708 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the transaction, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. This represents a 60.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $86.68 per share, with a total value of $499,970.24. Following the acquisition, the director owned 5,768 shares in the company, valued at approximately $499,970.24. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.