ConocoPhillips (NYSE:COP) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its stake in shares of ConocoPhillips (NYSE:COP – Get Rating) by 13.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 312,854 shares of the energy producer’s stock after purchasing an additional 36,322 shares during the quarter. State of Alaska Department of Revenue’s holdings in ConocoPhillips were worth $36,915,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of COP. Delos Wealth Advisors LLC increased its stake in ConocoPhillips by 102.0% during the 3rd quarter. Delos Wealth Advisors LLC now owns 297 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 150 shares in the last quarter. Center for Financial Planning Inc. increased its stake in shares of ConocoPhillips by 146.0% in the third quarter. Center for Financial Planning Inc. now owns 305 shares of the energy producer’s stock worth $31,000 after acquiring an additional 181 shares during the period. Activest Wealth Management increased its stake in shares of ConocoPhillips by 30,200.0% in the third quarter. Activest Wealth Management now owns 303 shares of the energy producer’s stock worth $31,000 after acquiring an additional 302 shares during the period. Fairfield Bush & CO. acquired a new stake in shares of ConocoPhillips in the first quarter worth $31,000. Finally, Semmax Financial Advisors Inc. acquired a new stake in shares of ConocoPhillips in the third quarter worth $33,000. Institutional investors and hedge funds own 81.76% of the company’s stock.

ConocoPhillips Price Performance

COP traded down $2.01 during midday trading on Friday, hitting $94.39. 17,056,186 shares of the company traded hands, compared to its average volume of 6,792,432. The business has a 50 day simple moving average of $111.37 and a two-hundred day simple moving average of $115.73. The company has a current ratio of 1.46, a quick ratio of 1.36 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $115.04 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 0.45 and a beta of 1.29. ConocoPhillips has a 52-week low of $78.30 and a 52-week high of $138.49.

ConocoPhillips (NYSE:COP – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The energy producer reported $2.71 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.01). The business had revenue of $19.26 billion during the quarter, compared to analysts’ expectations of $18.16 billion. ConocoPhillips had a return on equity of 35.30% and a net margin of 22.74%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.27 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 11.79 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 29th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Tuesday, March 28th. ConocoPhillips’s dividend payout ratio is currently 14.06%.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker bought 4,800 shares of ConocoPhillips stock in a transaction on Wednesday, February 22nd. The shares were bought at an average cost of $103.00 per share, with a total value of $494,400.00. Following the completion of the purchase, the director now directly owns 27,600 shares of the company’s stock, valued at $2,842,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $154.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 10th. StockNews.com assumed coverage on shares of ConocoPhillips in a research note on Thursday. They issued a “hold” rating on the stock. Societe Generale lowered shares of ConocoPhillips from a “hold” rating to a “sell” rating and increased their price objective for the stock from $106.00 to $114.00 in a research note on Monday, November 21st. They noted that the move was a valuation call. Raymond James cut their price objective on shares of ConocoPhillips from $150.00 to $135.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 26th. Finally, Mizuho dropped their price target on shares of ConocoPhillips from $150.00 to $143.00 in a research report on Friday, March 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.86.

About ConocoPhillips

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ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.