State of Tennessee Department of Treasury Purchases 34,553 Shares of ConocoPhillips (NYSE:COP)

State of Tennessee Department of Treasury grew its position in ConocoPhillips (NYSE:COP) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 478,226 shares of the energy producer’s stock after acquiring an additional 34,553 shares during the period. State of Tennessee Department of Treasury’s holdings in ConocoPhillips were worth $47,426,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of COP. Albion Financial Group UT increased its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips in the 4th quarter valued at $27,000. Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips during the 4th quarter valued at $32,000. Finally, Marshall Investment Management LLC bought a new position in ConocoPhillips during the fourth quarter worth $36,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the topic of several research analyst reports. Scotiabank dropped their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Royal Bank of Canada cut their price objective on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Finally, Truist Financial upped their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.32.

ConocoPhillips Stock Up 3.0 %

NYSE COP opened at $88.96 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $130.77. The stock has a market capitalization of $112.46 billion, a PE ratio of 11.42, a PEG ratio of 0.79 and a beta of 0.83. The business has a fifty day moving average price of $95.25 and a two-hundred day moving average price of $101.30.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.51%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

About ConocoPhillips

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.