Teachers Retirement System of The State of Kentucky lessened its position in shares of ConocoPhillips (NYSE:COP) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,748 shares of the energy producer’s stock after selling 5,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in ConocoPhillips were worth $6,011,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in ConocoPhillips by 255.3% during the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after purchasing an additional 9,200,014 shares in the last quarter. BlackRock Inc. lifted its holdings in ConocoPhillips by 7.8% during the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after purchasing an additional 6,197,896 shares in the last quarter. FMR LLC lifted its holdings in ConocoPhillips by 6.9% during the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after purchasing an additional 3,982,002 shares in the last quarter. AJO LP lifted its holdings in ConocoPhillips by 3,000.7% during the second quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after purchasing an additional 2,891,652 shares in the last quarter. Finally, State Street Corp lifted its holdings in ConocoPhillips by 3.9% during the first quarter. State Street Corp now owns 65,388,296 shares of the energy producer’s stock valued at $3,260,918,000 after purchasing an additional 2,452,533 shares in the last quarter. Institutional investors own 69.83% of the company’s stock.
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ConocoPhillips (NYSE:COP) opened at $50.13 on Monday. The company has a quick ratio of 2.23, a current ratio of 2.38 and a debt-to-equity ratio of 0.64. The firm has a market cap of $59,931.22, a P/E ratio of 2,506.50, a P/E/G ratio of 12.32 and a beta of 1.28. ConocoPhillips has a twelve month low of $42.26 and a twelve month high of $54.22.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The firm had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. During the same quarter in the previous year, the business posted ($0.66) earnings per share. research analysts expect that ConocoPhillips will post 0.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is currently -57.30%.
COP has been the topic of several recent analyst reports. Scotiabank reaffirmed a “buy” rating and set a $52.00 price objective on shares of ConocoPhillips in a report on Friday, September 8th. J P Morgan Chase & Co reissued an “overweight” rating on shares of ConocoPhillips in a research note on Saturday, September 16th. Jefferies Group LLC set a $54.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Royal Bank Of Canada set a $54.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, August 24th. Finally, Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price target for the stock from $51.00 to $58.00 in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $55.37.
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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