Oregon Public Employees Retirement Fund Cuts Stock Holdings in ConocoPhillips $COP

Oregon Public Employees Retirement Fund lowered its stake in shares of ConocoPhillips (NYSE:COP) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,045 shares of the energy producer’s stock after selling 1,100 shares during the period. Oregon Public Employees Retirement Fund’s holdings in ConocoPhillips were worth $9,786,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of COP. Tritonpoint Wealth LLC boosted its stake in ConocoPhillips by 1.3% during the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after acquiring an additional 110 shares during the last quarter. Iowa State Bank boosted its stake in ConocoPhillips by 0.5% during the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after acquiring an additional 110 shares during the last quarter. First National Bank Sioux Falls boosted its stake in ConocoPhillips by 4.6% during the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after acquiring an additional 113 shares during the last quarter. KLCM Advisors Inc. boosted its stake in ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after acquiring an additional 115 shares during the last quarter. Finally, Fairvoy Private Wealth LLC boosted its stake in ConocoPhillips by 3.5% during the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock valued at $314,000 after acquiring an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of a number of research analyst reports. Wells Fargo & Company reiterated an “overweight” rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Piper Sandler increased their price objective on shares of ConocoPhillips from $123.00 to $124.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Mizuho reduced their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Wednesday, October 8th. Finally, BMO Capital Markets raised their price target on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.52.

ConocoPhillips Trading Down 4.5%

Shares of NYSE:COP opened at $87.83 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $94.60 and its 200 day moving average price is $92.44. The company has a market cap of $109.70 billion, a PE ratio of 11.79, a P/E/G ratio of 2.33 and a beta of 0.62. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $115.38.

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

ConocoPhillips Announces Dividend

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

ConocoPhillips 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.