VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of ConocoPhillips (NYSE:COP – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 136,000 shares of the energy producer’s stock, valued at approximately $14,139,000.
A number of other hedge funds and other institutional investors have also modified their holdings of COP. California State Teachers Retirement System raised its position in shares of ConocoPhillips by 10,228.2% during the 2nd quarter. California State Teachers Retirement System now owns 147,873,744 shares of the energy producer’s stock worth $15,372,954,000 after buying an additional 146,441,998 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $1,260,482,000. Primecap Management Co. CA bought a new position in shares of ConocoPhillips in the second quarter valued at approximately $1,204,726,000. Legal & General Group Plc acquired a new position in shares of ConocoPhillips during the second quarter valued at approximately $716,151,000. Finally, Jupiter Topco LLC acquired a new position in shares of ConocoPhillips during the second quarter valued at approximately $427,954,000. 82.36% of the stock is currently owned by institutional investors.
ConocoPhillips Stock Performance
Shares of COP stock opened at $134.23 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $137.42. The stock’s 50-day moving average is $120.75 and its two-hundred day moving average is $119.67. The firm has a market cap of $161.26 billion, a P/E ratio of 17.76, a PEG ratio of 1.41 and a beta of 0.13.
ConocoPhillips Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.5%. ConocoPhillips’s dividend payout ratio is presently 44.44%.
Analysts Set New Price Targets
Several analysts have recently weighed in on COP shares. Seaport Research Partners started coverage on ConocoPhillips in a report on Thursday, September 3rd. They issued a “neutral” rating for the company. The Goldman Sachs Group lowered their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Raymond James Financial reiterated an “underperform” rating and issued a $168.00 price target on shares of ConocoPhillips in a research report on Monday, August 24th. Freedom Capital raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $140.29.
Get Our Latest Report on ConocoPhillips
Insiders Place Their Bets
In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by insiders.
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.
Featured Articles
- Five stocks we like better than ConocoPhillips
- 3 Under-the-Radar Defense Stocks With Record Backlogs
- This Korea ETF Has Soared, But the Rally May Not Be Over
- Why Guidewire’s Post-Earnings Plunge May Not Last
- Ride-Share Reckoning: Tesla Drives Into Uber’s Lane
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.
