New York State Teachers Retirement System Lowers Holdings in ConocoPhillips $COP

New York State Teachers Retirement System cut its holdings in ConocoPhillips (NYSE:COP) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,081,538 shares of the energy producer’s stock after selling 7,758 shares during the period. New York State Teachers Retirement System owned 0.09% of ConocoPhillips worth $97,057,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Schwartz Investment Counsel Inc. lifted its holdings in ConocoPhillips by 159.6% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock worth $5,125,000 after purchasing an additional 30,000 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of ConocoPhillips by 49.3% during the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock worth $83,969,000 after acquiring an additional 264,726 shares in the last quarter. ORG Wealth Partners LLC raised its holdings in shares of ConocoPhillips by 853.3% during the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock worth $698,000 after acquiring an additional 5,922 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of ConocoPhillips by 17.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock worth $13,927,000 after acquiring an additional 22,827 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its holdings in shares of ConocoPhillips by 17.7% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock worth $3,924,000 after acquiring an additional 5,627 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Jefferies Financial Group decreased their price objective on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a report on Monday. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Barclays decreased their price objective on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Susquehanna decreased their price objective on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Finally, Piper Sandler decreased their price objective on ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.78.

ConocoPhillips Stock Performance

NYSE COP opened at $87.67 on Thursday. The company has a market cap of $109.49 billion, a P/E ratio of 11.77, a P/E/G ratio of 2.36 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The business’s 50 day moving average price is $94.31 and its 200-day moving average price is $92.29. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.98 EPS. Sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 18th. ConocoPhillips’s dividend payout ratio is 41.88%.

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.