New York State Teachers Retirement System Cuts Stock Holdings in ConocoPhillips (NYSE:COP)

New York State Teachers Retirement System decreased its holdings in ConocoPhillips (NYSE:COP - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,089,296 shares of the energy producer's stock after selling 81,605 shares during the period. New York State Teachers Retirement System owned about 0.09% of ConocoPhillips worth $114,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips during the fourth quarter worth $26,000. 10Elms LLP acquired a new position in shares of ConocoPhillips during the fourth quarter worth $28,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips during the fourth quarter worth $32,000. Garde Capital Inc. acquired a new position in shares of ConocoPhillips during the first quarter worth $35,000. Finally, Rakuten Securities Inc. grew its stake in shares of ConocoPhillips by 222.0% during the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock worth $38,000 after purchasing an additional 262 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on COP shares. Citigroup lowered their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Susquehanna lowered their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research note on Monday, May 12th. Wells Fargo & Company reiterated an "overweight" rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. JPMorgan Chase & Co. lowered their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, Morgan Stanley upped their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.80.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.24% of the company's stock.

ConocoPhillips Stock Performance

Shares of COP traded up $1.98 during mid-day trading on Wednesday, hitting $93.97. 2,345,337 shares of the company's stock were exchanged, compared to its average volume of 7,549,566. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The firm has a market capitalization of $118.79 billion, a P/E ratio of 11.94, a P/E/G ratio of 2.43 and a beta of 0.62. The business's 50 day moving average is $90.04 and its two-hundred day moving average is $94.88. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the prior year, the firm earned $2.05 earnings per share. On average, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.32%. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

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.