California State Teachers Retirement System Sells 57,677 Shares of ConocoPhillips $COP

California State Teachers Retirement System lowered its holdings in ConocoPhillips (NYSE:COP) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,431,746 shares of the energy producer’s stock after selling 57,677 shares during the period. California State Teachers Retirement System owned approximately 0.12% of ConocoPhillips worth $188,990,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. AXA S.A. grew its stake in ConocoPhillips by 91.1% in the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after buying an additional 40,499 shares in the last quarter. Sei Investments Co. raised its position in shares of ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after buying an additional 44,852 shares in the last quarter. BNP Paribas bought a new stake in shares of ConocoPhillips during the 2nd quarter worth $33,000. Osterweis Capital Management Inc. bought a new stake in shares of ConocoPhillips during the 2nd quarter worth $151,000. Finally, Main Street Financial Solutions LLC grew its position in ConocoPhillips by 53.5% in the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after acquiring an additional 1,675 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $114.07 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The company has a 50-day moving average price of $113.10 and a 200-day moving average price of $114.60. The company has a market cap of $138.97 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.40 and a beta of 0.12. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm earned $2.09 earnings per share. As a group, equities analysts anticipate that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips’s payout ratio is 57.05%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Jefferies Financial Group raised their price target on 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 price objective on ConocoPhillips in a research report on Monday, June 22nd. Barclays raised their price objective on ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $124.00 to $130.00 in a research report on Monday, June 22nd. Finally, BMO Capital Markets cut their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $134.16.

ConocoPhillips 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.