New York State Common Retirement Fund Sells 48,317 Shares of ConocoPhillips (NYSE:COP)

New York State Common Retirement Fund reduced its stake in ConocoPhillips (NYSE:COP) by 2.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,075,151 shares of the energy producer’s stock after selling 48,317 shares during the quarter. New York State Common Retirement Fund owned about 0.18% of ConocoPhillips worth $218,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of COP. Values First Advisors Inc. purchased a new position in ConocoPhillips in the third quarter worth $26,000. Stephens Consulting LLC boosted its holdings in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Ruedi Wealth Management Inc. raised its holdings in shares of ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in ConocoPhillips in the 2nd quarter worth approximately $35,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Down 0.4 %

COP stock traded down $0.41 during midday trading on Friday, hitting $109.13. The stock had a trading volume of 621,460 shares, compared to its average volume of 5,876,044. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm has a market cap of $126.73 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. The business has a 50-day moving average of $108.01 and a two-hundred day moving average of $113.17. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the business earned $2.16 EPS. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.86%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.86%.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent research reports. Truist Financial reduced their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Scotiabank reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Mizuho lowered their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. UBS Group reduced their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Susquehanna lowered their target price on ConocoPhillips from $147.00 to $144.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $136.94.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

ConocoPhillips Company Profile

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.