ConocoPhillips (NYSE:COP) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in ConocoPhillips (NYSE:COP) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,310,440 shares of the energy producer’s stock after selling 139,733 shares during the quarter. California Public Employees Retirement System owned about 0.19% of ConocoPhillips worth $239,385,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Jackson Grant Investment Advisers Inc. raised its position in ConocoPhillips by 398.1% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 269 shares of the energy producer’s stock worth $27,000 after acquiring an additional 215 shares in the last quarter. Northwest Bank & Trust Co bought a new stake in ConocoPhillips in the second quarter worth about $29,000. Fairfield Bush & CO. acquired a new stake in ConocoPhillips during the 1st quarter worth about $31,000. NewSquare Capital LLC raised its holdings in ConocoPhillips by 335.4% during the 1st quarter. NewSquare Capital LLC now owns 344 shares of the energy producer’s stock worth $34,000 after buying an additional 265 shares during the period. Finally, HHM Wealth Advisors LLC raised its holdings in ConocoPhillips by 91.4% during the 1st quarter. HHM Wealth Advisors LLC now owns 402 shares of the energy producer’s stock worth $40,000 after buying an additional 192 shares during the period. Institutional investors and hedge funds own 80.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $115.61 on Monday. The company has a market capitalization of $137.28 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 0.70 and a beta of 1.28. ConocoPhillips has a one year low of $91.53 and a one year high of $135.68. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 1.53. The company’s fifty day moving average price is $120.48 and its 200 day moving average price is $112.02.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.01%. The ex-dividend date is Monday, November 13th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.51. ConocoPhillips’s dividend payout ratio (DPR) is 22.30%.

Insider Buying and Selling

In related news, CEO Ryan Michael Lance sold 569,400 shares of ConocoPhillips stock in a transaction on Friday, September 1st. The shares were sold at an average price of $122.14, for a total value of $69,546,516.00. Following the transaction, the chief executive officer now owns 18,187 shares in the company, valued at approximately $2,221,360.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ryan Michael Lance sold 569,400 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the transaction, the chief executive officer now owns 18,187 shares in the company, valued at approximately $2,221,360.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Andrew D. Lundquist sold 30,800 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $123.83, for a total transaction of $3,813,964.00. Following the transaction, the senior vice president now owns 5,937 shares in the company, valued at approximately $735,178.71. The disclosure for this sale can be found here. Insiders have sold 602,049 shares of company stock worth $73,591,956 in the last quarter. 0.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

COP has been the topic of several recent analyst reports. Erste Group Bank upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Mizuho boosted their price objective on ConocoPhillips from $135.00 to $139.00 and gave the stock a “neutral” rating in a report on Monday, September 18th. Raymond James dropped their target price on ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating on the stock in a report on Monday, July 24th. Wells Fargo & Company increased their price target on shares of ConocoPhillips from $134.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price target on shares of ConocoPhillips in a research report on Monday, August 14th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $136.16.

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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.