ConocoPhillips (NYSE:COP) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its stake in shares of ConocoPhillips (NYSE:COP) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 248,805 shares of the energy producer’s stock after selling 18,370 shares during the period. State of Alaska Department of Revenue’s holdings in ConocoPhillips were worth $31,667,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new position in shares of ConocoPhillips in the third quarter valued at $27,000. West Branch Capital LLC boosted its stake in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Sachetta LLC purchased a new position in shares of ConocoPhillips in the fourth quarter valued at $27,000. Cooksen Wealth LLC purchased a new position in shares of ConocoPhillips in the fourth quarter valued at $27,000. Finally, Cape Investment Advisory Inc. boosted its stake in shares of ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on COP shares. Piper Sandler upped their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Barclays increased their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Scotiabank increased their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Finally, Morgan Stanley increased their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Price Performance

NYSE:COP traded up $0.65 during mid-day trading on Wednesday, reaching $114.77. 2,326,037 shares of the company were exchanged, compared to its average volume of 5,644,886. ConocoPhillips has a 12 month low of $99.35 and a 12 month high of $135.18. The company has a fifty day moving average of $117.68 and a 200 day moving average of $117.61. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The stock has a market cap of $134.23 billion, a PE ratio of 13.07, a PEG ratio of 2.04 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The company had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. On average, research analysts anticipate that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.72%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.