NJ State Employees Deferred Compensation Plan Has $2.99 Million Stock Position in ConocoPhillips (NYSE:COP)

NJ State Employees Deferred Compensation Plan grew its holdings in shares of ConocoPhillips (NYSE:COP) by 20.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,100 shares of the energy producer’s stock after buying an additional 5,100 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in ConocoPhillips were worth $2,985,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Albion Financial Group UT grew its holdings in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at about $27,000. Truvestments Capital LLC bought a new position in shares of ConocoPhillips during the third quarter valued at about $31,000. RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips during the third quarter valued at about $35,000. Finally, Marshall Investment Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at about $36,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

COP opened at $92.52 on Tuesday. The company has a market capitalization of $117.72 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 0.79 and a beta of 1.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $100.12 and a 200-day moving average price of $104.90. ConocoPhillips has a twelve month low of $91.56 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.37%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Insider Activity at ConocoPhillips

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. UBS Group dropped their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Barclays dropped their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $133.47.

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.