New York State Common Retirement Fund Acquires 278,821 Shares of ConocoPhillips (COP)

New York State Common Retirement Fund raised its holdings in ConocoPhillips (NYSE:COP) by 7.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,802,558 shares of the energy producer’s stock after purchasing an additional 278,821 shares during the period. New York State Common Retirement Fund owned approximately 0.31% of ConocoPhillips worth $167,160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of COP. State of Tennessee Treasury Department lifted its holdings in shares of ConocoPhillips by 79.8% during the 1st quarter. State of Tennessee Treasury Department now owns 898,352 shares of the energy producer’s stock worth $44,801,000 after acquiring an additional 398,743 shares during the period. CIBC World Markets Inc. lifted its holdings in shares of ConocoPhillips by 217.9% during the 1st quarter. CIBC World Markets Inc. now owns 25,230 shares of the energy producer’s stock worth $1,258,000 after acquiring an additional 17,293 shares during the period. State of Wisconsin Investment Board lifted its holdings in shares of ConocoPhillips by 20.2% during the 1st quarter. State of Wisconsin Investment Board now owns 1,273,022 shares of the energy producer’s stock worth $63,486,000 after acquiring an additional 213,669 shares during the period. Smith Moore & CO. lifted its holdings in shares of ConocoPhillips by 1.7% during the 1st quarter. Smith Moore & CO. now owns 6,401 shares of the energy producer’s stock worth $319,000 after acquiring an additional 105 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of ConocoPhillips by 1.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 149,823 shares of the energy producer’s stock worth $7,472,000 after acquiring an additional 2,745 shares during the period. 70.08% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently weighed in on COP. Scotiabank reaffirmed a “buy” rating and set a $53.00 price target on shares of ConocoPhillips in a report on Friday, September 29th. BidaskClub downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Barclays PLC reaffirmed an “overweight” rating and set a $55.00 price target (up previously from $51.00) on shares of ConocoPhillips in a report on Tuesday, October 10th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $53.00 price target on shares of ConocoPhillips in a report on Friday, November 3rd. Finally, Royal Bank Of Canada upped their price target on shares of ConocoPhillips from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $55.37.

Shares of ConocoPhillips (NYSE:COP) opened at $51.23 on Wednesday. ConocoPhillips has a 12-month low of $42.26 and a 12-month high of $54.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.23 and a current ratio of 2.38. The firm has a market cap of $62,848.27, a price-to-earnings ratio of 2,628.50, a PEG ratio of 12.92 and a beta of 1.28.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a negative net margin of 7.32% and a positive return on equity of 0.12%. The company had revenue of $7.20 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the prior year, the company posted ($0.66) earnings per share. research analysts anticipate that ConocoPhillips will post 0.54 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, October 16th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is presently -57.30%.

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About ConocoPhillips

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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