Kentucky Retirement Systems Buys 21,667 Shares of ConocoPhillips $COP

Kentucky Retirement Systems lifted its position in ConocoPhillips (NYSE:COP) by 27.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 101,146 shares of the energy producer’s stock after purchasing an additional 21,667 shares during the period. Kentucky Retirement Systems’ holdings in ConocoPhillips were worth $13,351,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Patten Group Inc. grew its position in shares of ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock worth $719,000 after buying an additional 83 shares in the last quarter. IFC Advisors LLC raised its holdings in shares of ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after acquiring an additional 84 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after acquiring an additional 88 shares in the last quarter. Blue Trust Inc. lifted its stake in ConocoPhillips by 0.4% in the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock worth $2,791,000 after acquiring an additional 92 shares during the period. Finally, Sigma Planning Corp lifted its stake in ConocoPhillips by 0.6% in the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after acquiring an additional 94 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 3.6%

Shares of COP stock opened at $118.17 on Thursday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The firm has a market capitalization of $143.97 billion, a PE ratio of 20.06, a P/E/G ratio of 1.38 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The stock’s 50-day simple moving average is $113.01 and its 200-day simple moving average is $114.74.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on COP. Piper Sandler lifted their price objective on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Citigroup upped their target price on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Mizuho dropped their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Capital One Financial cut their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. Finally, Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.