ConocoPhillips (NYSE:COP) Holdings Trimmed by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its position in shares of ConocoPhillips (NYSE:COP) by 6.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 171,135 shares of the energy producer’s stock after selling 11,267 shares during the period. Public Employees Retirement Association of Colorado’s holdings in ConocoPhillips were worth $21,782,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Valued Wealth Advisors LLC grew its holdings in shares of ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after acquiring an additional 82 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its stake in shares of ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares during the last quarter. Manchester Capital Management LLC lifted its stake in shares of ConocoPhillips by 22.1% in the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after purchasing an additional 86 shares during the last quarter. Adirondack Trust Co. lifted its stake in shares of ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after purchasing an additional 90 shares during the last quarter. Finally, Mayfair Advisory Group LLC lifted its stake in shares of ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after purchasing an additional 90 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COP has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Wolfe Research initiated coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. Susquehanna lifted their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Barclays boosted their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Mizuho cut their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $143.24.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $1.94 during trading hours on Monday, hitting $108.92. 2,434,559 shares of the stock were exchanged, compared to its average volume of 5,566,221. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The stock has a market capitalization of $127.39 billion, a P/E ratio of 12.55, a P/E/G ratio of 2.19 and a beta of 1.24. ConocoPhillips has a 12 month low of $105.77 and a 12 month high of $135.18. The business’s 50-day moving average is $113.75 and its two-hundred day moving average is $117.21.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. Equities research analysts expect that ConocoPhillips will post 8.73 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.86%. ConocoPhillips’s payout ratio is 26.27%.

About ConocoPhillips

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.