Stonebridge Financial Group LLC Acquires Shares of 1,926 ConocoPhillips (NYSE:COP)

Stonebridge Financial Group LLC acquired a new position in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,926 shares of the energy producer’s stock, valued at approximately $191,000.

Other hedge funds also recently made changes to their positions in the company. AMF Tjanstepension AB boosted its holdings in ConocoPhillips by 4.7% in the 3rd quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock valued at $122,628,000 after purchasing an additional 52,334 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $73,000. Novare Capital Management LLC boosted its stake in shares of ConocoPhillips by 14.0% in the third quarter. Novare Capital Management LLC now owns 4,487 shares of the energy producer’s stock valued at $472,000 after buying an additional 550 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in ConocoPhillips by 7.4% during the third quarter. Wedge Capital Management L L P NC now owns 2,168 shares of the energy producer’s stock worth $228,000 after acquiring an additional 150 shares during the period. Finally, CX Institutional raised its position in ConocoPhillips by 4.3% in the third quarter. CX Institutional now owns 53,547 shares of the energy producer’s stock worth $5,637,000 after acquiring an additional 2,206 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of several research analyst reports. Truist Financial boosted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Barclays decreased their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $157.00 to $124.00 in a report on Monday. Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Wells Fargo & Company dropped their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday. Two investment 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 company. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.72.

ConocoPhillips Trading Up 2.3 %

Shares of COP stock opened at $101.72 on Wednesday. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a market capitalization of $117.08 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.77 and a beta of 1.18. The firm has a 50-day moving average price of $100.91 and a 200 day moving average price of $106.03. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that ConocoPhillips will post 8.3 earnings per share 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 dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Insider Activity

In related news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

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.