ConocoPhillips (NYSE:COP) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in ConocoPhillips (NYSE:COP - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,645 shares of the energy producer's stock after selling 5,739 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in ConocoPhillips were worth $3,953,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips in the fourth quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter worth about $27,000. 10Elms LLP purchased a new stake in shares of ConocoPhillips during the 4th quarter worth about $28,000. Crowley Wealth Management Inc. purchased a new stake in shares of ConocoPhillips during the 4th quarter worth about $32,000. Finally, Garde Capital Inc. purchased a new stake in shares of ConocoPhillips during the 1st quarter worth about $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COP has been the topic of several recent analyst reports. Raymond James Financial reissued an "outperform" rating and set a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Barclays lowered their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Susquehanna lowered their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. Scotiabank lowered their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Finally, Royal Bank Of Canada lowered their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $121.30.

ConocoPhillips Price Performance

COP stock traded down $2.87 during mid-day trading on Monday, reaching $91.82. The company's stock had a trading volume of 9,718,757 shares, compared to its average volume of 7,498,708. The stock has a market cap of $116.08 billion, a PE ratio of 11.67, a P/E/G ratio of 2.56 and a beta of 0.61. 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 has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The company's 50 day moving average is $89.65 and its two-hundred day moving average is $95.40.

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

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.40%. ConocoPhillips's dividend payout ratio is currently 39.64%.

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The stock was acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president now directly owns 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% 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.