Police & Firemen s Retirement System of New Jersey Increases Position in ConocoPhillips $COP

Police & Firemen s Retirement System of New Jersey increased its position in ConocoPhillips (NYSE:COP) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 192,108 shares of the energy producer’s stock after buying an additional 3,801 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in ConocoPhillips were worth $17,240,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aberdeen Group plc grew its stake in ConocoPhillips by 49.3% during the first quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock valued at $83,969,000 after acquiring an additional 264,726 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of ConocoPhillips by 17.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock valued at $13,927,000 after purchasing an additional 22,827 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of ConocoPhillips by 2.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock valued at $304,716,000 after purchasing an additional 78,642 shares during the last quarter. Commonwealth Retirement Investments LLC purchased a new position in shares of ConocoPhillips during the second quarter valued at about $1,264,000. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of ConocoPhillips by 17.7% in the first quarter. Ashton Thomas Private Wealth LLC now owns 37,361 shares of the energy producer’s stock worth $3,924,000 after purchasing an additional 5,627 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Insider Activity

In related news, Director William H. Mcraven bought 5,768 shares of the stock in a transaction dated Monday, November 10th. The stock was purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company assumed coverage on ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 target price for the company. Jefferies Financial Group lowered their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 13th. UBS Group reduced their target price on shares of ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday. Barclays lowered their price target on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Finally, The Goldman Sachs Group reduced their price objective on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Eighteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.33.

ConocoPhillips Stock Down 1.9%

Shares of NYSE COP opened at $89.00 on Thursday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The firm has a 50-day simple moving average of $91.08 and a two-hundred day simple moving average of $91.96. The company has a market cap of $109.97 billion, a P/E ratio of 11.95, a PEG ratio of 2.36 and a beta of 0.58. 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 (NYSE:COP) last released its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 3.8%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, November 17th. ConocoPhillips’s dividend payout ratio is 47.52%.

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.