Stonebridge Financial Group LLC Makes New $191,000 Investment in ConocoPhillips (NYSE:COP)

Stonebridge Financial Group LLC bought a new stake in ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,926 shares of the energy producer’s stock, valued at approximately $191,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tidal Investments LLC raised its position in ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after purchasing an additional 31,011 shares during the period. Brookstone Capital Management grew its stake in shares of ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after buying an additional 383 shares in the last quarter. Prospera Financial Services Inc raised its holdings in shares of ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after buying an additional 13,595 shares during the period. The Manufacturers Life Insurance Company lifted its position in ConocoPhillips by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after acquiring an additional 46,621 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on COP. Evercore ISI reiterated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Morgan Stanley started coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Barclays dropped their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Truist Financial boosted their price target on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.72.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $101.72 on Wednesday. The company has a market cap of $117.08 billion, a PE ratio of 13.06, a P/E/G ratio of 0.77 and a beta of 1.18. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18. The company has a fifty day moving average price of $100.91 and a two-hundred day moving average price of $106.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 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 expect that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced 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 presently 40.05%.

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.