ConocoPhillips $COP Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,435 shares of the energy producer’s stock after selling 12,482 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in ConocoPhillips were worth $26,907,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in COP. Capital International Investors raised its stake in shares of ConocoPhillips by 18.2% during the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after buying an additional 7,037,873 shares during the period. Primecap Management Co. CA raised its stake in shares of ConocoPhillips by 31.3% during the 3rd quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock worth $979,102,000 after buying an additional 2,467,555 shares during the period. Ameriprise Financial Inc. raised its stake in shares of ConocoPhillips by 20.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock worth $1,228,886,000 after buying an additional 2,216,010 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $135,265,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $128,470,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 0.0%

Shares of COP opened at $114.01 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The stock has a 50 day moving average price of $123.09 and a 200 day moving average price of $108.61. The stock has a market capitalization of $138.90 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.28 and a beta of 0.11. ConocoPhillips has a one year low of $84.33 and a one year high of $135.87.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.09 EPS. Equities research analysts forecast that ConocoPhillips will post 9.92 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on COP shares. Piper Sandler upped their target price on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Sanford C. Bernstein upped their target price on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Royal Bank Of Canada upped their target price on ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. BMO Capital Markets reduced their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Truist Financial set a $128.00 price target on ConocoPhillips in a research report on Friday, May 1st. Seventeen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.60.

Insider Buying and Selling

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 7,700 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the sale, the senior vice president directly owned 25,284 shares in the company, valued at $3,287,678.52. This represents a 23.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Heather G. Hrap sold 2,654 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $317,630.72. Following the completion of the sale, the senior vice president owned 5,663 shares of the company’s stock, valued at approximately $677,747.84. The trade was a 31.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 734,891 shares of company stock worth $93,345,692 over the last quarter. Corporate insiders own 0.09% 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.