New Jersey Better Educational Savings Trust Has $801,000 Position in ConocoPhillips (COP)
New Jersey Better Educational Savings Trust increased its holdings in ConocoPhillips (NYSE:COP) by 14.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,000 shares of the energy producer’s stock after purchasing an additional 2,000 shares during the quarter. New Jersey Better Educational Savings Trust’s holdings in ConocoPhillips were worth $801,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in ConocoPhillips by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 90,547,596 shares of the energy producer’s stock worth $3,980,473,000 after buying an additional 1,694,618 shares in the last quarter. BlackRock Inc. increased its stake in ConocoPhillips by 7.8% during the 2nd quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock worth $3,772,723,000 after buying an additional 6,197,896 shares in the last quarter. FMR LLC increased its stake in ConocoPhillips by 6.9% during the 1st quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock worth $3,066,900,000 after buying an additional 3,982,002 shares in the last quarter. Bank of New York Mellon Corp increased its stake in ConocoPhillips by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 15,774,835 shares of the energy producer’s stock worth $693,462,000 after buying an additional 397,339 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in ConocoPhillips by 255.3% during the 1st quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock worth $638,530,000 after buying an additional 9,200,014 shares in the last quarter. 69.87% of the stock is owned by institutional investors.
ConocoPhillips (COP) opened at $51.68 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $54.22. The firm has a market capitalization of $62,119.01, a P/E ratio of 2,598.00, a P/E/G ratio of 12.53 and a beta of 1.26.
ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 26th. The energy producer reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The company had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period in the prior year, the firm earned ($0.66) earnings per share. analysts anticipate that ConocoPhillips will post 0.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, October 16th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Friday, October 13th. ConocoPhillips’s dividend payout ratio (DPR) is -57.30%.
In other news, Director Charles E. Bunch purchased 2,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were bought at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the purchase, the director now directly owns 3,429 shares of the company’s stock, valued at $178,513.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.82% of the stock is owned by corporate insiders.
COP has been the subject of several research reports. BidaskClub lowered ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Royal Bank of Canada set a $54.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research note on Thursday, August 24th. Piper Jaffray Companies set a $45.00 price objective on ConocoPhillips and gave the stock a “buy” rating in a research note on Friday, August 25th. Jefferies Group set a $54.00 price target on ConocoPhillips and gave the company a “buy” rating in a research report on Tuesday, August 29th. Finally, Scotiabank restated a “buy” rating and issued a $52.00 price target on shares of ConocoPhillips in a research report on Friday, September 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $55.47.
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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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