Strs Ohio Lowers Stake in ConocoPhillips $COP

Strs Ohio lessened its position in ConocoPhillips (NYSE:COP) by 5.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 358,824 shares of the energy producer’s stock after selling 19,343 shares during the period. Strs Ohio’s holdings in ConocoPhillips were worth $47,365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in ConocoPhillips in the 4th quarter worth approximately $25,000. Strive Asset Management LLC acquired a new position in ConocoPhillips in the 3rd quarter valued at $28,000. Board of the Pension Protection Fund purchased a new position in shares of ConocoPhillips during the 4th quarter worth $28,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of ConocoPhillips during the third quarter worth $28,000. Finally, Sfam LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the subject of several analyst reports. The Goldman Sachs Group dropped their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday. Truist Financial set a $128.00 price target on ConocoPhillips in a research note on Friday, May 1st. Morgan Stanley lowered their price target on ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a report on Friday, June 26th. Zacks Research downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Scotiabank increased their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $134.76.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $104.64 on Friday. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The stock has a market capitalization of $127.48 billion, a P/E ratio of 17.77, a PEG ratio of 1.19 and a beta of 0.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The business’s fifty day moving average price is $116.12 and its 200 day moving average price is $112.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 9.66 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.2%. ConocoPhillips’s payout ratio is presently 57.05%.

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.