ConocoPhillips (NYSE:COP) Holdings Raised by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lifted its stake in ConocoPhillips (NYSE:COP) by 6.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,532 shares of the energy producer’s stock after purchasing an additional 4,132 shares during the quarter. Louisiana State Employees Retirement System’s holdings in ConocoPhillips were worth $6,895,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. AMF Tjanstepension AB lifted its position in shares of ConocoPhillips by 4.7% in the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock valued at $122,628,000 after acquiring an additional 52,334 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in ConocoPhillips during the 3rd quarter valued at $73,000. Novare Capital Management LLC lifted its holdings in shares of ConocoPhillips by 14.0% in the third quarter. Novare Capital Management LLC now owns 4,487 shares of the energy producer’s stock valued at $472,000 after purchasing an additional 550 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of ConocoPhillips by 7.4% in the third quarter. Wedge Capital Management L L P NC now owns 2,168 shares of the energy producer’s stock worth $228,000 after buying an additional 150 shares during the period. Finally, CX Institutional grew its holdings in shares of ConocoPhillips by 4.3% during the third quarter. CX Institutional now owns 53,547 shares of the energy producer’s stock valued at $5,637,000 after buying an additional 2,206 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $101.72 on Wednesday. The stock has a 50-day simple moving average of $100.91 and a 200 day simple moving average of $106.03. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The stock has a market capitalization of $117.08 billion, a PE ratio of 13.06, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Research analysts anticipate that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wells Fargo & Company reduced their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday. JPMorgan Chase & Co. raised shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective on the stock. Piper Sandler cut their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Truist Financial lifted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $133.72.

Insiders Place Their Bets

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips 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.