477,773 Shares in ConocoPhillips $COP Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in ConocoPhillips (NYSE:COP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 477,773 shares of the energy producer’s stock, valued at approximately $49,669,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of ConocoPhillips during the fourth quarter worth $25,000. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at $28,000. Frazier Financial Advisors LLC grew its position in ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after acquiring an additional 145 shares during the last quarter. Allied Private Wealth LLC acquired a new position in ConocoPhillips in the 2nd quarter worth about $32,000. Finally, BNP Paribas acquired a new position in ConocoPhillips in the 2nd quarter worth about $33,000. 82.36% of the stock is owned by institutional investors.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. UBS Group raised their price objective on shares of ConocoPhillips from $143.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Weiss Ratings upgraded shares of ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $140.29.

ConocoPhillips Stock Performance

COP stock opened at $129.57 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The firm has a market cap of $155.66 billion, a PE ratio of 17.14, a P/E/G ratio of 1.38 and a beta of 0.11. The business has a 50 day moving average of $116.97 and a 200-day moving average of $118.48. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.88.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.ConocoPhillips’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same period last year, the company posted $1.42 earnings per share. As a group, sell-side analysts expect that ConocoPhillips will post 10.55 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.

ConocoPhillips Company 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.