ConocoPhillips (NYSE:COP) Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas reduced its stake in ConocoPhillips (NYSE:COP - Free Report) by 19.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,990 shares of the energy producer's stock after selling 5,650 shares during the period. Employees Retirement System of Texas' holdings in ConocoPhillips were worth $23,791,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of COP. Kovitz Investment Group Partners LLC grew its position in shares of ConocoPhillips by 164.8% during the third quarter. Kovitz Investment Group Partners LLC now owns 59,776 shares of the energy producer's stock worth $6,293,000 after acquiring an additional 37,201 shares during the last quarter. EP Wealth Advisors LLC grew its position in ConocoPhillips by 22.6% during the 3rd quarter. EP Wealth Advisors LLC now owns 38,690 shares of the energy producer's stock worth $4,073,000 after purchasing an additional 7,131 shares during the last quarter. iA Global Asset Management Inc. increased its stake in ConocoPhillips by 9.1% in the third quarter. iA Global Asset Management Inc. now owns 24,335 shares of the energy producer's stock valued at $2,562,000 after purchasing an additional 2,033 shares during the period. National Bank of Canada FI raised its holdings in shares of ConocoPhillips by 15.7% in the third quarter. National Bank of Canada FI now owns 735,557 shares of the energy producer's stock valued at $77,439,000 after buying an additional 99,972 shares during the last quarter. Finally, DF Dent & Co. Inc. boosted its stake in shares of ConocoPhillips by 88.4% during the third quarter. DF Dent & Co. Inc. now owns 6,223 shares of the energy producer's stock worth $655,000 after buying an additional 2,920 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

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Analyst Ratings Changes

Several equities analysts recently issued reports on the company. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research report on Thursday, January 30th. Raymond James downgraded ConocoPhillips from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Piper Sandler dropped their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Wells Fargo & Company cut their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.84.

ConocoPhillips Price Performance

Shares of NYSE COP traded down $0.56 on Monday, hitting $85.74. The company's stock had a trading volume of 12,868,881 shares, compared to its average volume of 6,909,675. The stock has a 50 day moving average of $98.19 and a 200-day moving average of $102.89. The company has a market capitalization of $108.38 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 12-month low of $81.34 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, 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 Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.64%. ConocoPhillips's dividend payout ratio (DPR) is 40.05%.

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.