Teachers Retirement System of The State of Kentucky Cuts Holdings in ConocoPhillips $COP

Teachers Retirement System of The State of Kentucky lowered its position in ConocoPhillips (NYSE:COP) by 34.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,969 shares of the energy producer’s stock after selling 54,217 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in ConocoPhillips were worth $9,551,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Greenfield Savings Bank boosted its position in ConocoPhillips by 1.2% during the third quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock worth $853,000 after purchasing an additional 108 shares in the last quarter. Perennial Investment Advisors LLC lifted its position in shares of ConocoPhillips by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock valued at $368,000 after buying an additional 112 shares in the last quarter. FAS Wealth Partners Inc. grew its stake in ConocoPhillips by 0.9% in the 2nd quarter. FAS Wealth Partners Inc. now owns 12,154 shares of the energy producer’s stock valued at $1,091,000 after acquiring an additional 112 shares during the period. Strategic Blueprint LLC grew its stake in ConocoPhillips by 1.4% in the 3rd quarter. Strategic Blueprint LLC now owns 7,917 shares of the energy producer’s stock valued at $749,000 after acquiring an additional 112 shares during the period. Finally, Strathmore Capital Advisors Inc. increased its holdings in ConocoPhillips by 3.5% in the 3rd quarter. Strathmore Capital Advisors Inc. now owns 3,441 shares of the energy producer’s stock worth $325,000 after acquiring an additional 116 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the sale, the chief executive officer owned 325,972 shares in the company, valued at $30,152,410. This trade represents a 60.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by company insiders.

ConocoPhillips Price Performance

COP stock opened at $118.57 on Wednesday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $122.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14. The firm has a market capitalization of $146.52 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 3.00 and a beta of 0.27. The business has a 50 day simple moving average of $102.72 and a 200-day simple moving average of $95.71.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The company had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.35 billion. During the same period last year, the firm posted $1.98 EPS. The business’s quarterly revenue was down 3.7% on a year-over-year basis. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Wednesday, February 18th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.8%. The ex-dividend date was Wednesday, February 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 53.00%.

Analysts Set New Price Targets

COP has been the topic of several research analyst reports. Sanford C. Bernstein dropped their target price on shares of ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Piper Sandler raised their price target on shares of ConocoPhillips from $108.00 to $111.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. boosted their price objective on ConocoPhillips from $98.00 to $103.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th. BMO Capital Markets raised their target price on ConocoPhillips from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Zacks Research lowered ConocoPhillips from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.96.

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.