Teacher Retirement System of Texas Sells 89,974 Shares of ConocoPhillips (NYSE:COP)

Teacher Retirement System of Texas lessened its holdings in ConocoPhillips (NYSE:COP) by 27.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 239,880 shares of the energy producer’s stock after selling 89,974 shares during the period. Teacher Retirement System of Texas’ holdings in ConocoPhillips were worth $23,789,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of COP. Albion Financial Group UT increased its position in ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in ConocoPhillips during the fourth quarter worth $27,000. Truvestments Capital LLC purchased a new position in ConocoPhillips during the third quarter worth $31,000. Global Wealth Strategies & Associates boosted its stake in 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 buying an additional 153 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new position in ConocoPhillips during the third quarter worth $35,000. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of several recent analyst reports. TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Piper Sandler dropped their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, Truist Financial boosted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.05.

ConocoPhillips Trading Down 0.3 %

Shares of NYSE:COP opened at $102.05 on Friday. The business’s 50 day moving average price is $99.21 and its 200-day moving average price is $103.45. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. 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 firm has a market capitalization of $129.84 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) 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 research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

ConocoPhillips Company 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.