Teachers Retirement System of The State of Kentucky Has $25.92 Million Stock Position in ConocoPhillips (NYSE:COP)

Teachers Retirement System of The State of Kentucky lessened its holdings in ConocoPhillips (NYSE:COP) by 24.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 246,189 shares of the energy producer’s stock after selling 81,167 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in ConocoPhillips were worth $25,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of COP. Vicus Capital boosted its stake in ConocoPhillips by 3.7% in the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock valued at $302,000 after buying an additional 94 shares in the last quarter. Montag A & Associates Inc. grew its holdings in shares of ConocoPhillips by 2.5% during the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock valued at $446,000 after purchasing an additional 96 shares during the last quarter. Excalibur Management Corp increased its position in ConocoPhillips by 2.4% during the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after purchasing an additional 96 shares in the last quarter. Cypress Capital Group lifted its stake in ConocoPhillips by 0.5% in the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after purchasing an additional 96 shares during the last quarter. Finally, Bank OZK boosted its position in ConocoPhillips by 1.6% in the second quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock valued at $715,000 after buying an additional 97 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $102.40 on Wednesday. The firm’s fifty day moving average price is $108.57 and its two-hundred day moving average price is $110.07. The company has a market capitalization of $117.85 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 0.85 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the business posted $2.16 EPS. As a group, analysts anticipate that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 37.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on COP shares. Susquehanna raised their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Evercore ISI restated an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Mizuho lifted their target price on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company upped their price target on ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.18.

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.