ConocoPhillips $COP Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund decreased its stake in shares of ConocoPhillips (NYSE:COP) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,045 shares of the energy producer’s stock after selling 1,100 shares during the period. Oregon Public Employees Retirement Fund’s holdings in ConocoPhillips were worth $9,786,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of COP. Charles Schwab Investment Management Inc. increased its stake in ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after buying an additional 31,736,423 shares during the period. Nuveen LLC acquired a new position in ConocoPhillips during the 1st quarter valued at about $658,981,000. AQR Capital Management LLC increased its stake in ConocoPhillips by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after buying an additional 3,058,505 shares during the period. Goldman Sachs Group Inc. increased its stake in ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after buying an additional 2,080,625 shares during the period. Finally, Deutsche Bank AG increased its stake in ConocoPhillips by 53.8% during the 1st quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock valued at $550,334,000 after buying an additional 1,834,118 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Melius Research assumed coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Royal Bank Of Canada lowered their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Capital One Financial lifted their price objective on shares of ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Finally, Roth Capital reaffirmed a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $117.52.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $87.83 on Monday. The firm’s 50 day simple moving average is $94.60 and its 200-day simple moving average is $92.44. The company has a market cap of $109.70 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.98 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

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.