Illinois Municipal Retirement Fund Has $22.14 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Illinois Municipal Retirement Fund lessened its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 210,785 shares of the energy producer's stock after selling 25,744 shares during the quarter. Illinois Municipal Retirement Fund's holdings in ConocoPhillips were worth $22,137,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Diversified Trust Co raised its holdings in shares of ConocoPhillips by 96.9% during the 1st quarter. Diversified Trust Co now owns 23,305 shares of the energy producer's stock valued at $2,447,000 after purchasing an additional 11,472 shares in the last quarter. Hidden Cove Wealth Management LLC acquired a new position in ConocoPhillips during the first quarter worth $202,000. Falcon Wealth Planning acquired a new position in ConocoPhillips during the first quarter worth $220,000. CNB Bank raised its holdings in ConocoPhillips by 14.8% during the first quarter. CNB Bank now owns 9,577 shares of the energy producer's stock valued at $1,006,000 after buying an additional 1,232 shares in the last quarter. Finally, Perpetual Ltd lifted its position in shares of ConocoPhillips by 122.3% in the first quarter. Perpetual Ltd now owns 34,750 shares of the energy producer's stock worth $3,649,000 after buying an additional 19,119 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $0.69 during trading on Friday, hitting $90.20. 7,553,864 shares of the stock were exchanged, compared to its average volume of 7,526,077. The company has a market capitalization of $114.03 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 2.41 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company's fifty day simple moving average is $89.93 and its 200-day simple moving average is $95.15.

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

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.46%. ConocoPhillips's payout ratio is currently 39.64%.

Analysts Set New Price Targets

A number of brokerages have recently commented on COP. Bank of America lowered their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Wells Fargo & Company reiterated an "overweight" rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday. Susquehanna dropped their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research report on Monday, May 12th. UBS Group decreased their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $109.00 target price (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.50.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The shares were bought 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 now owns 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by insiders.

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.