Kentucky Retirement Systems Acquires 8,703 Shares of ConocoPhillips (NYSE:COP)

Kentucky Retirement Systems raised its holdings in shares of ConocoPhillips (NYSE:COP) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,602 shares of the energy producer’s stock after purchasing an additional 8,703 shares during the period. Kentucky Retirement Systems’ holdings in ConocoPhillips were worth $8,886,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AMF Tjanstepension AB raised its position in shares of ConocoPhillips by 4.7% in the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after acquiring an additional 52,334 shares in the last quarter. Foundations Investment Advisors LLC raised its position in shares of ConocoPhillips by 2.1% in the 3rd quarter. Foundations Investment Advisors LLC now owns 12,268 shares of the energy producer’s stock worth $1,292,000 after acquiring an additional 256 shares in the last quarter. Greenleaf Trust raised its position in shares of ConocoPhillips by 28.9% in the 3rd quarter. Greenleaf Trust now owns 26,343 shares of the energy producer’s stock worth $2,773,000 after acquiring an additional 5,899 shares in the last quarter. Courier Capital LLC raised its position in shares of ConocoPhillips by 5.7% in the 3rd quarter. Courier Capital LLC now owns 20,378 shares of the energy producer’s stock worth $2,145,000 after acquiring an additional 1,095 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of ConocoPhillips by 10,634.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after acquiring an additional 1,194,434 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Insider Activity

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

COP opened at $102.05 on Friday. The company’s 50 day moving average is $100.17 and its 200 day moving average is $105.48. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market cap of $129.85 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 0.78 and a beta of 1.18. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. UBS Group decreased their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Barclays reduced their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Wells Fargo & Company reduced their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Morgan Stanley began coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Finally, Susquehanna raised their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.56.

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.