Retirement Systems of Alabama Trims Stock Position in ConocoPhillips (NYSE:COP)

Retirement Systems of Alabama lessened its position in ConocoPhillips (NYSE:COP - Free Report) by 2.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 758,086 shares of the energy producer's stock after selling 16,490 shares during the period. Retirement Systems of Alabama owned approximately 0.07% of ConocoPhillips worth $79,811,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alpha DNA Investment Management LLC increased its stake in ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer's stock valued at $1,879,000 after purchasing an additional 7,490 shares in the last quarter. Prospera Financial Services Inc grew its holdings in shares of ConocoPhillips by 23.6% during the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer's stock valued at $7,488,000 after buying an additional 13,595 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer's stock valued at $262,094,000 after buying an additional 46,621 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer's stock worth $482,996,000 after acquiring an additional 4,504,653 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of ConocoPhillips by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,096,450 shares of the energy producer's stock worth $747,114,000 after acquiring an additional 153,944 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

NYSE COP traded up $0.11 on Friday, hitting $101.02. 6,885,312 shares of the stock traded hands, compared to its average volume of 6,018,133. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The business's fifty day moving average is $108.03 and its two-hundred day moving average is $109.85. ConocoPhillips has a 12 month low of $100.58 and a 12 month high of $135.18. The firm has a market capitalization of $116.26 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.84 and a beta of 1.18.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the company earned $2.16 EPS. The firm's quarterly revenue was down 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a $0.78 dividend. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.09%. ConocoPhillips's dividend payout ratio (DPR) is presently 37.10%.

Analysts Set New Price Targets

A number of research firms have issued reports on COP. Royal Bank of Canada reiterated an "outperform" rating and set a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. UBS Group cut their target price on ConocoPhillips from $153.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, September 18th. Scotiabank decreased their price target on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, October 10th. Barclays raised their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. raised shares of ConocoPhillips from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $139.18.

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.