ConocoPhillips (NYSE:COP) Stake Boosted by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System increased its position in ConocoPhillips (NYSE:COP - Free Report) by 6.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,532 shares of the energy producer's stock after purchasing an additional 4,132 shares during the period. Louisiana State Employees Retirement System's holdings in ConocoPhillips were worth $6,895,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. State Street Corp boosted its stake in ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer's stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares during the period. Wellington Management Group LLP boosted its stake in ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock valued at $3,280,725,000 after acquiring an additional 5,240,016 shares during the period. Geode Capital Management LLC boosted its stake in ConocoPhillips by 3.9% in the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer's stock valued at $2,601,639,000 after acquiring an additional 924,289 shares during the period. Franklin Resources Inc. boosted its stake in ConocoPhillips by 12.5% in the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer's stock valued at $1,469,163,000 after acquiring an additional 1,506,599 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock valued at $1,311,369,000 after acquiring an additional 4,656,040 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at ConocoPhillips

In other news, Director R A. Walker acquired 10,400 shares of the stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips Price Performance

Shares of NYSE COP traded down $0.52 during trading on Friday, hitting $96.39. The company had a trading volume of 7,959,626 shares, compared to its average volume of 5,701,314. The company has a market cap of $110.93 billion, a P/E ratio of 12.37, a PEG ratio of 0.77 and a beta of 1.18. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The business's 50-day moving average is $100.44 and its 200 day moving average is $105.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities research analysts predict that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.24%. ConocoPhillips's dividend payout ratio is currently 40.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. upgraded ConocoPhillips from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Barclays decreased their target price on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Raymond James downgraded ConocoPhillips from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Finally, TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They set a "buy" rating and a $125.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and an average target price of $133.56.

ConocoPhillips 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.