ConocoPhillips (NYSE:COP) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama grew its stake in ConocoPhillips (NYSE:COP) by 17.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 888,703 shares of the energy producer’s stock after purchasing an additional 130,617 shares during the quarter. Retirement Systems of Alabama’s holdings in ConocoPhillips were worth $88,133,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Silverlake Wealth Management LLC raised its stake in ConocoPhillips by 8.8% during the fourth quarter. Silverlake Wealth Management LLC now owns 2,604 shares of the energy producer’s stock worth $258,000 after acquiring an additional 210 shares during the period. Sargent Investment Group LLC raised its stake in ConocoPhillips by 71.2% during the fourth quarter. Sargent Investment Group LLC now owns 21,501 shares of the energy producer’s stock worth $2,241,000 after acquiring an additional 8,945 shares during the period. Mather Group LLC. grew its position in ConocoPhillips by 9.0% in the 4th quarter. Mather Group LLC. now owns 41,000 shares of the energy producer’s stock worth $4,066,000 after purchasing an additional 3,382 shares during the last quarter. Brown Lisle Cummings Inc. grew its position in ConocoPhillips by 22.1% in the 4th quarter. Brown Lisle Cummings Inc. now owns 1,261 shares of the energy producer’s stock worth $125,000 after purchasing an additional 228 shares during the last quarter. Finally, Patron Partners LLC grew its position in ConocoPhillips by 22.0% in the 4th quarter. Patron Partners LLC now owns 4,978 shares of the energy producer’s stock worth $494,000 after purchasing an additional 899 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 2.2 %

Shares of NYSE:COP opened at $100.61 on Wednesday. The stock has a market capitalization of $115.80 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 0.76 and a beta of 1.18. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a 50 day moving average price of $101.67 and a 200 day moving average price of $106.46.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research analysts have commented on COP shares. Scotiabank decreased their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Evercore ISI restated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research report on Friday, December 6th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Raymond James upped their target price on shares of ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $135.89.

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.