Retirement Systems of Alabama Has $79.81 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Retirement Systems of Alabama reduced its stake in shares of ConocoPhillips (NYSE:COP) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 758,086 shares of the energy producer’s stock after selling 16,490 shares during the period. Retirement Systems of Alabama owned approximately 0.07% of ConocoPhillips worth $79,811,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vicus Capital increased its holdings in ConocoPhillips by 3.7% during the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after purchasing an additional 94 shares in the last quarter. Montag A & Associates Inc. increased its stake in ConocoPhillips by 2.5% in the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock valued at $446,000 after buying an additional 96 shares during the last quarter. Excalibur Management Corp raised its stake in ConocoPhillips by 2.4% in the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after buying an additional 96 shares during the period. Cypress Capital Group raised its stake in ConocoPhillips by 0.5% in the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after acquiring an additional 96 shares during the period. Finally, Bank OZK lifted its holdings in ConocoPhillips by 1.6% during the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock valued at $715,000 after purchasing an additional 97 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COP has been the topic of several research reports. Barclays upped their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. UBS Group lowered their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Mizuho lifted their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. BMO Capital Markets increased their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company boosted their price target on ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $139.18.

ConocoPhillips Stock Down 0.2 %

Shares of NYSE:COP opened at $100.73 on Friday. ConocoPhillips has a 12-month low of $100.66 and a 12-month high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market cap of $115.93 billion, a P/E ratio of 12.00, a P/E/G ratio of 0.84 and a beta of 1.18. The business has a fifty day simple moving average of $108.03 and a 200 day simple moving average of $109.85.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s revenue was down 8.5% compared to the same quarter last year. During the same period last year, the business posted $2.16 EPS. Analysts predict that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is presently 37.10%.

ConocoPhillips 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.