Kentucky Retirement Systems Raises Stock Position in ConocoPhillips (NYSE:COP)

Kentucky Retirement Systems grew its position in shares of ConocoPhillips (NYSE:COP) by 10.8% in the fourth quarter, HoldingsChannel reports. The firm owned 89,602 shares of the energy producer’s stock after buying an additional 8,703 shares during the quarter. Kentucky Retirement Systems’ holdings in ConocoPhillips were worth $8,886,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Albion Financial Group UT grew its position in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of ConocoPhillips during the third quarter valued at about $26,000. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips during the third quarter valued at about $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips during the third quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates grew its position in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $102.05 on Friday. The company has a market capitalization of $129.85 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.78 and a beta of 1.18. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $100.17 and a 200 day moving average of $105.48.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data 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%. On average, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Insiders Place Their Bets

In other news, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Truist Financial raised their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company dropped their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. UBS Group dropped their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.