Illinois Municipal Retirement Fund Sells 29,239 Shares of ConocoPhillips $COP

Illinois Municipal Retirement Fund cut its holdings in ConocoPhillips (NYSE:COP) by 12.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 201,382 shares of the energy producer’s stock after selling 29,239 shares during the period. Illinois Municipal Retirement Fund’s holdings in ConocoPhillips were worth $26,582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC increased its position in ConocoPhillips by 31.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock worth $8,067,000 after buying an additional 20,501 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of ConocoPhillips by 10.5% in the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock valued at $14,572,000 after purchasing an additional 14,833 shares during the period. Czech National Bank boosted its holdings in shares of ConocoPhillips by 2.7% during the 4th quarter. Czech National Bank now owns 325,841 shares of the energy producer’s stock worth $30,502,000 after buying an additional 8,635 shares during the period. BXM Wealth LLC lifted its position in ConocoPhillips by 691.6% during the fourth quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer’s stock worth $3,746,000 after acquiring an additional 34,961 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of ConocoPhillips by 17.6% in the fourth quarter. Assetmark Inc. now owns 410,229 shares of the energy producer’s stock valued at $38,402,000 after purchasing an additional 61,361 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 0.3%

Shares of COP opened at $111.49 on Thursday. The firm has a 50 day simple moving average of $113.50 and a two-hundred day simple moving average of $113.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The company has a market cap of $135.82 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.34 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the business posted $2.09 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. Research analysts forecast that ConocoPhillips will post 9.27 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on COP shares. Jefferies Financial Group boosted their target price on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a research report on Monday, June 22nd. UBS Group reduced their target price on ConocoPhillips from $155.00 to $143.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Scotiabank raised their price target on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Finally, Truist Financial dropped their price target on ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a research note on Wednesday, July 8th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.