TIAA Trust National Association Raises Stock Position in ConocoPhillips (NYSE:COP)

Key Points

• TIAA Trust National Association increased its stake in ConocoPhillips by 1.1%, holding 242,209 shares valued at approximately $25.44 million as of the latest reporting period.
• Analysts have adjusted their price targets for ConocoPhillips, with Barclays reducing its target from $135 to $120 while maintaining an "overweight" rating, indicating mixed opinions on the stock's future performance.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, translating to an annualized yield of 3.4%, reflecting a stable income for investors amid fluctuating market conditions.

TIAA Trust National Association lifted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 242,209 shares of the energy producer's stock after acquiring an additional 2,711 shares during the quarter. TIAA Trust National Association's holdings in ConocoPhillips were worth $25,437,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Clearwater Capital Advisors LLC purchased a new position in ConocoPhillips during the first quarter valued at approximately $1,066,000. Mcintyre Freedman & Flynn Investment Advisers Inc. increased its holdings in ConocoPhillips by 0.8% during the first quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 26,638 shares of the energy producer's stock valued at $2,798,000 after buying an additional 203 shares during the period. Baker Avenue Asset Management LP increased its holdings in ConocoPhillips by 2.4% during the first quarter. Baker Avenue Asset Management LP now owns 42,353 shares of the energy producer's stock valued at $4,448,000 after buying an additional 998 shares during the period. Heritage Wealth Advisors increased its holdings in ConocoPhillips by 5.9% during the first quarter. Heritage Wealth Advisors now owns 444,823 shares of the energy producer's stock valued at $46,715,000 after buying an additional 24,864 shares during the period. Finally, MONECO Advisors LLC increased its holdings in ConocoPhillips by 20.5% during the first quarter. MONECO Advisors LLC now owns 6,582 shares of the energy producer's stock valued at $691,000 after buying an additional 1,121 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COP has been the topic of several research reports. Royal Bank Of Canada cut their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a report on Friday, July 11th. Barclays cut their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Susquehanna cut their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Mizuho cut their price target 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. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $121.33.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, 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 the SEC website. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Trading Down 2.7%

NYSE:COP opened at $92.75 on Friday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The firm has a fifty day simple moving average of $91.97 and a 200-day simple moving average of $94.07. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $117.25 billion, a P/E ratio of 11.79, a PEG ratio of 2.41 and a beta of 0.67.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. The business 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 period in the previous year, the firm posted $2.05 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current 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 given 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 yield of 3.4%. ConocoPhillips's payout ratio is currently 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.

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