New York State Teachers Retirement System Sells 7,758 Shares of ConocoPhillips $COP

New York State Teachers Retirement System lessened its holdings in ConocoPhillips (NYSE:COP) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,081,538 shares of the energy producer’s stock after selling 7,758 shares during the quarter. New York State Teachers Retirement System’s holdings in ConocoPhillips were worth $97,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Tritonpoint Wealth LLC lifted its position in ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after buying an additional 110 shares in the last quarter. Iowa State Bank lifted its position in ConocoPhillips by 0.5% during the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after buying an additional 110 shares in the last quarter. First National Bank Sioux Falls lifted its position in ConocoPhillips by 4.6% during the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after buying an additional 113 shares in the last quarter. KLCM Advisors Inc. lifted its position in ConocoPhillips by 2.6% during the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after buying an additional 115 shares in the last quarter. Finally, Fairvoy Private Wealth LLC lifted its position in ConocoPhillips by 3.5% during the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock worth $314,000 after buying an additional 117 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.6%

Shares of NYSE COP opened at $87.67 on Thursday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. 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 fifty day simple moving average of $94.31 and a 200-day simple moving average of $92.29. The stock has a market capitalization of $109.49 billion, a PE ratio of 11.77, a PEG ratio of 2.36 and a beta of 0.62.

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

ConocoPhillips Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on COP. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday, October 8th. Barclays reduced their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Melius assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Morgan Stanley reduced their target price on ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Evercore ISI reduced their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Monday, October 6th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $116.78.

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.