State of New Jersey Common Pension Fund D Has $38.62 Million Holdings in ConocoPhillips $COP

State of New Jersey Common Pension Fund D lessened its position in ConocoPhillips (NYSE:COP) by 1.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 430,334 shares of the energy producer’s stock after selling 6,076 shares during the period. State of New Jersey Common Pension Fund D’s holdings in ConocoPhillips were worth $38,618,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Financial Network Wealth Advisors LLC boosted its position in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips during the first quarter valued at approximately $31,000. Bogart Wealth LLC boosted its position in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management boosted its position in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. Finally, IMA Advisory Services Inc. purchased a new position in shares of ConocoPhillips during the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on COP shares. Barclays dropped their price target on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Melius Research started coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. UBS Group cut their price objective on ConocoPhillips from $124.00 to $122.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Jefferies Financial Group cut their price objective on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Wells Fargo & Company began coverage on ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective on the stock. Eighteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.63.

ConocoPhillips Stock Performance

Shares of COP opened at $88.01 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The firm has a market cap of $109.92 billion, a PE ratio of 11.81, a PEG ratio of 2.40 and a beta of 0.62. The stock’s fifty day moving average price is $93.32 and its two-hundred day moving average price is $91.92.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.98 EPS. On average, equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.5%. ConocoPhillips’s dividend payout ratio is 41.88%.

ConocoPhillips Company 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.