Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stake in ConocoPhillips (NYSE:COP)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in ConocoPhillips (NYSE:COP) by 8.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 275,049 shares of the energy producer’s stock after buying an additional 22,256 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in ConocoPhillips were worth $27,277,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Albion Financial Group UT grew its position in ConocoPhillips by 876.9% in 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 during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter worth $27,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at about $31,000. Global Wealth Strategies & Associates increased its stake 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 worth $34,000 after acquiring an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips during the third quarter worth about $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Piper Sandler dropped their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group dropped their price objective on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Finally, Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Two 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Stock Up 0.9 %

COP stock opened at $102.25 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company’s 50 day simple moving average is $99.21 and its 200-day simple moving average is $103.53. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The firm has a market capitalization of $130.09 billion, a PE ratio of 13.13, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) 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%. Equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.05%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

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.