Retirement Systems of Alabama Has $93.92 Million Holdings in ConocoPhillips (NYSE:COP)

Retirement Systems of Alabama reduced its holdings in ConocoPhillips (NYSE:COP) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 809,172 shares of the energy producer’s stock after selling 89,169 shares during the quarter. Retirement Systems of Alabama owned approximately 0.07% of ConocoPhillips worth $93,921,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new position in ConocoPhillips during the 3rd quarter worth $27,000. West Branch Capital LLC lifted its holdings in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its holdings in ConocoPhillips by 63.1% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after buying an additional 111 shares in the last quarter. Spartan Planning & Wealth Management acquired a new position in ConocoPhillips during the 3rd quarter worth $40,000. Finally, Milestone Investment Advisors LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $46,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.1 %

COP stock traded up $0.13 during trading hours on Friday, reaching $130.24. 4,823,139 shares of the stock were exchanged, compared to its average volume of 3,808,210. The firm’s 50-day moving average is $122.49 and its 200-day moving average is $117.62. ConocoPhillips has a 12 month low of $95.70 and a 12 month high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The company has a market cap of $153.22 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 2.72 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the prior year, the business posted $2.71 EPS. On average, equities research analysts expect that ConocoPhillips will post 9.57 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Analyst Ratings Changes

Several analysts have commented on COP shares. Susquehanna upped their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Truist Financial dropped their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Barclays started coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price for the company. Wells Fargo & Company upped their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Finally, Scotiabank upped their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

Insider Transactions at ConocoPhillips

In other news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock worth $87,615,169 in the last three months. Insiders own 0.34% 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.