New Mexico Educational Retirement Board Boosts Holdings in ConocoPhillips (NYSE:COP)

New Mexico Educational Retirement Board grew its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,198 shares of the energy producer's stock after buying an additional 4,988 shares during the period. New Mexico Educational Retirement Board's holdings in ConocoPhillips were worth $6,168,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of COP. Albion Financial Group UT boosted its holdings in shares of ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock valued at $25,000 after buying an additional 228 shares in the last quarter. Values First Advisors Inc. bought a new position in ConocoPhillips in the 3rd quarter worth about $26,000. Reston Wealth Management LLC bought a new position in ConocoPhillips in the 3rd quarter worth about $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips in the 3rd quarter worth about $31,000. Finally, Global Wealth Strategies & Associates boosted its stake in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer's stock worth $34,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COP. UBS Group dropped their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a "buy" rating on the stock in a research note on Wednesday, February 12th. Piper Sandler dropped their price target 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. Truist Financial upped their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Barclays dropped their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Finally, TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a "buy" rating and a $125.00 target price on the stock. Two investment 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.56.

ConocoPhillips Stock Performance

NYSE COP traded up $1.09 on Tuesday, reaching $97.35. 11,773,544 shares of the stock were exchanged, compared to its average volume of 6,715,071. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The firm has a market capitalization of $112.04 billion, a PE ratio of 12.50, a PEG ratio of 0.77 and a beta of 1.18. The company's 50-day simple moving average is $100.30 and its two-hundred day simple moving average is $105.61. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Analysts expect that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips's payout ratio is 40.05%.

Insiders Place Their Bets

In related news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction dated 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 directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now owns 38,000 shares of the company's stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

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.