Newbridge Financial Services Group Inc. Acquires 1,013 Shares of ConocoPhillips (NYSE:COP)

Newbridge Financial Services Group Inc. grew its holdings in shares of ConocoPhillips (NYSE:COP) by 1,406.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,085 shares of the energy producer’s stock after buying an additional 1,013 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in ConocoPhillips were worth $108,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Albion Financial Group UT raised its holdings in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after acquiring an additional 228 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $26,000. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates grew its stake in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE COP opened at $99.39 on Tuesday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The firm has a 50-day moving average price of $101.05 and a two-hundred day moving average price of $106.11. The company has a market capitalization of $114.39 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Analysts anticipate that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Insider Activity at ConocoPhillips

In other news, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COP. Piper Sandler dropped their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Wells Fargo & Company reduced their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday. Barclays dropped their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.72.

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.