New York State Common Retirement Fund Has $200.36 Million Stock Position in ConocoPhillips (NYSE:COP)

New York State Common Retirement Fund reduced its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,907,843 shares of the energy producer's stock after selling 326,281 shares during the quarter. New York State Common Retirement Fund owned 0.15% of ConocoPhillips worth $200,362,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of COP. Vanguard Group Inc. boosted its stake in ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after buying an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after buying an additional 5,549,078 shares in the last quarter. Invesco Ltd. boosted its stake in ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after buying an additional 4,211,939 shares in the last quarter. Geode Capital Management LLC boosted its stake in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after buying an additional 3,397,360 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in ConocoPhillips by 27.6% in the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock valued at $1,364,364,000 after buying an additional 2,971,661 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group raised their price objective on ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a research note on Friday. Citigroup reduced their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Royal Bank Of Canada dropped their target price on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research report on Friday. Piper Sandler increased their target price on ConocoPhillips from $107.00 to $113.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley increased their target price on ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $122.15.

ConocoPhillips Trading Up 0.3%

Shares of COP traded up $0.29 during mid-day trading on Friday, reaching $95.66. 4,903,410 shares of the company were exchanged, compared to its average volume of 7,661,071. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The stock has a market capitalization of $120.93 billion, a PE ratio of 12.16, a PEG ratio of 2.58 and a beta of 0.61. The business has a 50 day simple moving average of $90.58 and a two-hundred day simple moving average of $94.75.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period last year, the company earned $2.05 earnings per share. On average, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.26%. ConocoPhillips's dividend payout ratio is currently 39.64%.

About ConocoPhillips

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.