ConocoPhillips (NYSE:COP) Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its stake in ConocoPhillips (NYSE:COP) by 3.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 69,849 shares of the energy producer’s stock after buying an additional 2,268 shares during the quarter. Maryland State Retirement & Pension System’s holdings in ConocoPhillips were worth $6,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. ProVise Management Group LLC boosted its holdings in shares of ConocoPhillips by 2.6% in the fourth quarter. ProVise Management Group LLC now owns 79,335 shares of the energy producer’s stock valued at $7,868,000 after acquiring an additional 2,004 shares during the period. Enhancing Capital LLC purchased a new stake in ConocoPhillips in the 4th quarter valued at $1,081,000. Xponance Inc. boosted its stake in ConocoPhillips by 35.4% during the 4th quarter. Xponance Inc. now owns 213,800 shares of the energy producer’s stock worth $21,203,000 after purchasing an additional 55,868 shares during the period. Boston Partners grew its position in ConocoPhillips by 24.5% during the 4th quarter. Boston Partners now owns 5,475,842 shares of the energy producer’s stock worth $543,976,000 after purchasing an additional 1,078,063 shares during the last quarter. Finally, Evoke Wealth LLC increased its stake in ConocoPhillips by 3.2% in the fourth quarter. Evoke Wealth LLC now owns 33,184 shares of the energy producer’s stock valued at $3,291,000 after purchasing an additional 1,028 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP opened at $101.33 on Thursday. The stock’s 50 day simple moving average is $99.19 and its 200 day simple moving average is $103.54. The stock has a market cap of $128.93 billion, a P/E ratio of 13.01, a P/E/G ratio of 0.79 and a beta of 1.12. 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.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating 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%. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 yield of 3.08%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on COP shares. Wells Fargo & Company lowered their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. JPMorgan Chase & Co. decreased their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Finally, TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

Insider Buying and Selling at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.