ConocoPhillips (NYSE:COP) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 483,810 shares of the energy producer's stock after buying an additional 46,474 shares during the period. State of New Jersey Common Pension Fund D's holdings in ConocoPhillips were worth $47,979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Albion Financial Group UT lifted its stake in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $26,000. Reston Wealth Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $31,000. Finally, Global Wealth Strategies & Associates lifted its stake in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer's stock valued at $34,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on COP shares. Raymond James lowered ConocoPhillips from a "strong-buy" rating to an "outperform" rating and decreased their price target for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Piper Sandler decreased their price target on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Morgan Stanley assumed coverage on ConocoPhillips in a report on Monday, December 16th. They issued an "overweight" rating and a $128.00 price objective on the stock. Mizuho upgraded ConocoPhillips from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. Finally, Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a "buy" rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $133.56.

ConocoPhillips Stock Up 2.5 %

Shares of COP traded up $2.48 during mid-day trading on Thursday, reaching $102.05. The company's stock had a trading volume of 6,307,261 shares, compared to its average volume of 6,727,116. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The stock has a market cap of $117.45 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.76 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company's 50 day moving average is $100.15 and its 200 day moving average is $105.51.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. ConocoPhillips's payout ratio is currently 40.05%.

Insider Activity

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

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.