ConocoPhillips (NYSE:COP) Shares Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lifted its stake in shares of ConocoPhillips (NYSE:COP) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 110,875 shares of the energy producer’s stock after acquiring an additional 11,471 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in ConocoPhillips were worth $10,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AMF Tjanstepension AB boosted its stake in ConocoPhillips by 4.7% during the third quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock valued at $122,628,000 after buying an additional 52,334 shares in the last quarter. TCI Wealth Advisors Inc. acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $200,000. Nisa Investment Advisors LLC raised its holdings in shares of ConocoPhillips by 10.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 438,032 shares of the energy producer’s stock worth $46,116,000 after purchasing an additional 43,006 shares in the last quarter. Orrstown Financial Services Inc. acquired a new stake in ConocoPhillips during the third quarter valued at approximately $342,000. Finally, Pallas Capital Advisors LLC boosted its holdings in ConocoPhillips by 27.8% during the third quarter. Pallas Capital Advisors LLC now owns 7,325 shares of the energy producer’s stock worth $765,000 after buying an additional 1,594 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on COP shares. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Susquehanna boosted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Barclays reduced their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Truist Financial boosted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $133.47.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $96.99 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The business’s 50-day moving average price is $100.07 and its two-hundred day moving average price is $105.28. The company has a market capitalization of $123.41 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.22%. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Insider Activity

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

About ConocoPhillips

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.