California State Teachers Retirement System Trims Stake in ConocoPhillips $COP

California State Teachers Retirement System cut its stake in ConocoPhillips (NYSE:COP) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,431,746 shares of the energy producer’s stock after selling 57,677 shares during the period. California State Teachers Retirement System’s holdings in ConocoPhillips were worth $188,990,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Patten Group Inc. raised its position in shares of ConocoPhillips by 1.5% in the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock worth $719,000 after acquiring an additional 83 shares in the last quarter. IFC Advisors LLC lifted its stake in shares of ConocoPhillips by 0.4% in the 1st quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after purchasing an additional 84 shares during the period. Cornerstone Planning Group LLC boosted its position in shares of ConocoPhillips by 9.6% during the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. boosted its position in shares of ConocoPhillips by 0.4% during the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after purchasing an additional 92 shares in the last quarter. Finally, Sigma Planning Corp grew its stake in ConocoPhillips by 0.6% in the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after purchasing an additional 94 shares during the period. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on COP. Raymond James Financial decreased their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Monday, June 1st. Jefferies Financial Group boosted their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a report on Monday, May 18th. Mizuho reduced their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Capital One Financial decreased their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research note on Monday, May 18th. Finally, Scotiabank lifted their price target on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.16.

ConocoPhillips Stock Down 1.3%

Shares of ConocoPhillips stock opened at $114.07 on Wednesday. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The company’s 50 day moving average is $113.10 and its 200 day moving average is $114.60. The company has a market cap of $138.97 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.40 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 EPS. Research analysts anticipate that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.