ConocoPhillips (NYSE:COP) Shares Purchased by TIAA Trust National Association

TIAA Trust National Association raised its stake in ConocoPhillips (NYSE:COP) by 38.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 239,498 shares of the energy producer’s stock after acquiring an additional 67,038 shares during the quarter. TIAA Trust National Association’s holdings in ConocoPhillips were worth $23,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Albion Financial Group UT raised its stake 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 purchasing an additional 228 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips during the third quarter valued at approximately $31,000. Crowley Wealth Management Inc. acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $32,000. Finally, Global Wealth Strategies & Associates grew its stake in ConocoPhillips by 80.5% in the 4th 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. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $102.44 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The company has a market capitalization of $130.34 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 0.79 and a beta of 1.12. The business has a 50-day moving average of $99.12 and a 200-day moving average of $103.31.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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%. On average, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Wall Street Analyst Weigh In

COP has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. UBS Group decreased their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Evercore ISI restated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Barclays cut their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, TD Cowen initiated coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

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.