Teacher Retirement System of Texas Has $41.41 Million Position in ConocoPhillips (NYSE:COP)

Teacher Retirement System of Texas lifted its position in ConocoPhillips (NYSE:COP - Free Report) by 64.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 394,333 shares of the energy producer's stock after buying an additional 154,453 shares during the period. Teacher Retirement System of Texas' holdings in ConocoPhillips were worth $41,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in COP. R.H. Investment Group LLC lifted its stake in ConocoPhillips by 0.4% during the 1st quarter. R.H. Investment Group LLC now owns 46,043 shares of the energy producer's stock valued at $4,835,000 after acquiring an additional 195 shares during the period. Revisor Wealth Management LLC purchased a new position in shares of ConocoPhillips during the first quarter worth $235,000. Novem Group lifted its position in ConocoPhillips by 12.4% during the first quarter. Novem Group now owns 46,694 shares of the energy producer's stock valued at $4,904,000 after purchasing an additional 5,135 shares during the period. Private Trust Co. NA boosted its holdings in ConocoPhillips by 5.9% in the first quarter. Private Trust Co. NA now owns 9,401 shares of the energy producer's stock valued at $987,000 after purchasing an additional 527 shares during the last quarter. Finally, Pinnacle Financial Partners Inc grew its position in ConocoPhillips by 4.0% during the 1st quarter. Pinnacle Financial Partners Inc now owns 17,139 shares of the energy producer's stock worth $1,773,000 after purchasing an additional 654 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

COP has been the subject of several research analyst reports. Scotiabank reduced their target price on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Royal Bank Of Canada reduced their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Mizuho decreased their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Bank of America cut their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Finally, Susquehanna reduced their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.80.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded down $0.16 during trading on Friday, reaching $94.28. The company's stock had a trading volume of 4,331,501 shares, compared to its average volume of 7,600,427. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The business's fifty day moving average price is $90.18 and its 200-day moving average price is $94.84. The firm has a market cap of $119.19 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 2.55 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 (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, 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 company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period last year, the firm earned $2.05 EPS. As a group, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.31%. ConocoPhillips's dividend payout ratio is currently 39.64%.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by company insiders.

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.