Teacher Retirement System of Texas grew its holdings in shares of ConocoPhillips (NYSE:COP) by 81.0% during the second quarter, HoldingsChannel.com reports. The firm owned 649,081 shares of the energy producer’s stock after acquiring an additional 290,458 shares during the quarter. Teacher Retirement System of Texas’ holdings in ConocoPhillips were worth $45,189,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Global X Management Co. LLC lifted its stake in shares of ConocoPhillips by 5.1% in the 1st quarter. Global X Management Co. LLC now owns 16,952 shares of the energy producer’s stock valued at $1,005,000 after acquiring an additional 827 shares during the last quarter. Dreman Value Management L L C bought a new stake in shares of ConocoPhillips in the 1st quarter valued at about $638,000. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of ConocoPhillips by 13.8% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 20,971 shares of the energy producer’s stock valued at $1,243,000 after acquiring an additional 2,539 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of ConocoPhillips by 6.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 40,347 shares of the energy producer’s stock valued at $2,392,000 after acquiring an additional 2,454 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in shares of ConocoPhillips by 122.8% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 129,854 shares of the energy producer’s stock valued at $7,594,000 after acquiring an additional 71,573 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.
In other ConocoPhillips news, VP Glenda Mae Schwarz sold 6,763 shares of the company’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $65.04, for a total transaction of $439,865.52. Following the transaction, the vice president now owns 10,182 shares in the company, valued at approximately $662,237.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Janet Langford Kelly sold 504 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $71.00, for a total value of $35,784.00. Following the transaction, the senior vice president now owns 41,211 shares in the company, valued at approximately $2,925,981. The disclosure for this sale can be found here. Insiders have sold a total of 120,947 shares of company stock worth $8,482,746 in the last quarter. Company insiders own 0.88% of the company’s stock.
ConocoPhillips opened at $71.94 on Friday, according to MarketBeat. The company has a market cap of $83.38 billion, a price-to-earnings ratio of 119.90, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.75 and a quick ratio of 1.58. ConocoPhillips has a one year low of $42.26 and a one year high of $73.75.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, July 26th. The energy producer reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.01. The business had revenue of $9.24 billion during the quarter, compared to analyst estimates of $9.79 billion. ConocoPhillips had a return on equity of 10.26% and a net margin of 13.26%. During the same quarter in the prior year, the company posted $0.14 EPS. equities research analysts forecast that ConocoPhillips will post 4.26 EPS for the current fiscal year.
ConocoPhillips declared that its board has authorized a share repurchase program on Thursday, July 12th that permits the company to buyback $9.00 billion in outstanding shares. This buyback authorization permits the energy producer to buy up to 10.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Monday, July 23rd will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Friday, July 20th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.58%. ConocoPhillips’s dividend payout ratio (DPR) is 190.00%.
A number of equities research analysts have recently weighed in on COP shares. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Wednesday, June 13th. Edward Jones lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, April 18th. BMO Capital Markets boosted their target price on ConocoPhillips from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, July 27th. Barclays boosted their target price on ConocoPhillips from $71.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 27th. Finally, Sanford C. Bernstein raised ConocoPhillips from a “market perform” rating to an “outperform” rating and set a $82.00 target price for the company in a research note on Friday, June 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $70.63.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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