Retirement Systems of Alabama Sells 12,763 Shares of ConocoPhillips (NYSE:COP)

Retirement Systems of Alabama decreased its holdings in ConocoPhillips (NYSE:COP - Free Report) by 1.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 875,940 shares of the energy producer's stock after selling 12,763 shares during the period. Retirement Systems of Alabama owned about 0.07% of ConocoPhillips worth $91,991,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips in the fourth quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth $27,000. 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. Finally, Marshall Investment Management LLC acquired a new position in shares of ConocoPhillips during the fourth quarter worth $36,000. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

NYSE:COP opened at $93.77 on Friday. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The firm has a market cap of $118.54 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 2.54 and a beta of 0.61. The firm's fifty day moving average is $89.48 and its two-hundred day moving average is $95.60.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating 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 company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same period in the prior year, the company earned $2.05 earnings per share. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company 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. This represents a $3.12 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is currently 39.64%.

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.24% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Scotiabank reduced their price target on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Morgan Stanley upped their price target on ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Raymond James Financial reissued an "outperform" rating and issued a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Finally, Royal Bank Of Canada cut their target price on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $121.30.

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.

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