Retirement Systems of Alabama Sells 13,775 Shares of ConocoPhillips $COP

Retirement Systems of Alabama cut its stake in ConocoPhillips (NYSE:COP) by 1.6% in the second quarter, HoldingsChannel.com reports. The fund owned 862,165 shares of the energy producer’s stock after selling 13,775 shares during the period. Retirement Systems of Alabama’s holdings in ConocoPhillips were worth $77,371,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in COP. Bogart Wealth LLC grew its stake in shares of ConocoPhillips by 136.8% in the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management boosted its holdings in shares of ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC boosted its holdings in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips in the first quarter worth approximately $31,000. Finally, IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips in the first quarter worth approximately $37,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 1.3%

NYSE COP opened at $87.96 on Thursday. The company’s 50-day moving average price is $92.94 and its 200-day moving average price is $92.00. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The stock has a market cap of $109.86 billion, a PE ratio of 11.81, a PEG ratio of 2.32 and a beta of 0.62. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38.

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

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Capital One Financial lifted their price target on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Melius Research initiated coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Scotiabank boosted their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Piper Sandler cut their price objective on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 13th. Finally, Wolfe Research cut their price objective on shares of ConocoPhillips from $137.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Eighteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $115.63.

ConocoPhillips Company 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.