Illinois Municipal Retirement Fund Purchases 9,500 Shares of ConocoPhillips $COP

Illinois Municipal Retirement Fund raised its position in ConocoPhillips (NYSE:COP) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,621 shares of the energy producer’s stock after acquiring an additional 9,500 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in ConocoPhillips were worth $21,588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of ConocoPhillips by 14.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock worth $220,506,000 after purchasing an additional 298,245 shares during the period. Natixis Advisors LLC increased its position in shares of ConocoPhillips by 8.7% during the third quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after buying an additional 160,410 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of ConocoPhillips by 31.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after buying an additional 20,501 shares during the period. SPX Gestao de Recursos Ltda bought a new position in ConocoPhillips in the third quarter worth about $1,892,000. Finally, D.A. Davidson & CO. lifted its holdings in ConocoPhillips by 10.5% in the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after buying an additional 14,833 shares during the period. 82.36% of the stock is owned by institutional investors.

Insider Activity at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 34,500 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $4,128,960.00. Following the completion of the transaction, the senior vice president directly owned 17,469 shares in the company, valued at $2,090,689.92. The trade was a 66.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Heather G. Hrap sold 2,654 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $317,630.72. Following the sale, the senior vice president owned 5,663 shares in the company, valued at approximately $677,747.84. This represents a 31.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 671,869 shares of company stock valued at $85,857,406 over the last ninety days. Corporate insiders own 0.09% of the company’s stock.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Crude-oil sentiment improved as Middle East supply disruptions and tight inventory conditions kept a floor under oil prices, benefiting large U.S. exploration and production names like ConocoPhillips. Article Title
• Positive Sentiment: Zacks highlighted ConocoPhillips as an energy name positioned to navigate industry pressures, reinforcing the view that COP is relatively well placed versus peers. Article Title
• Positive Sentiment: Broader energy-sector strength has helped improve sentiment toward oil stocks, with the sector outperforming the market this year and drawing renewed investor attention to names like COP. Article Title
• Neutral Sentiment: Recent commentary noted that ConocoPhillips did not fall as much as oil prices during a prior pullback, suggesting the stock may be trading more resiliently than crude itself, but without a major company-specific catalyst. Article Title
• Negative Sentiment: There was also a backdrop of mixed investor positioning, including significant institutional trimming in recent quarters, which can weigh on sentiment even as near-term oil prices improve. Article Title

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $119.82 on Thursday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The firm’s 50-day moving average is $121.19 and its 200 day moving average is $110.21. The stock has a market cap of $145.98 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.29 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. ConocoPhillips’s revenue was down 6.1% compared to the same quarter last year. During the same period last year, the business earned $2.09 EPS. Sell-side analysts anticipate that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.8%. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on COP shares. Weiss Ratings reiterated a “hold (c)” rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Sanford C. Bernstein raised their target price on ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Roth Mkm cut ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price target on the stock. in a research note on Tuesday, February 17th. Finally, BMO Capital Markets decreased their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Seventeen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.48.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.