6,066 Shares in ConocoPhillips $COP Bought by Northbridge Financial Group LLC

Northbridge Financial Group LLC bought a new position in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, HoldingsChannel reports. The firm bought 6,066 shares of the energy producer’s stock, valued at approximately $568,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in ConocoPhillips during the third quarter valued at approximately $26,000. Strive Asset Management LLC bought a new position in ConocoPhillips during the third quarter valued at approximately $28,000. Board of the Pension Protection Fund bought a new position in ConocoPhillips during the fourth quarter valued at approximately $28,000. KERR FINANCIAL PLANNING Corp bought a new position in ConocoPhillips during the third quarter valued at approximately $28,000. Finally, Optima Capital LLC bought a new position in ConocoPhillips during the fourth quarter valued at approximately $34,000. 82.36% of the stock is owned by institutional investors.

Insider Transactions at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the sale, the executive vice president owned 5,395 shares in the company, valued at approximately $685,488.70. This trade represents a 56.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the completion of the sale, the senior vice president owned 25,284 shares of the company’s stock, valued at $3,287,678.52. This trade represents a 23.34% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 734,891 shares of company stock worth $93,345,692. 0.09% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

NYSE:COP opened at $125.16 on Wednesday. The firm has a market capitalization of $152.49 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 1.44 and a beta of 0.14. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The business has a 50 day simple moving average of $123.37 and a 200-day simple moving average of $106.90. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the company earned $2.09 EPS. Equities analysts forecast that ConocoPhillips will post 9.63 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

Analyst Ratings Changes

A number of brokerages recently commented on COP. BMO Capital Markets dropped their price target on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Argus increased their price objective on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Roth Mkm lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price objective for the company. in a research report on Tuesday, February 17th. Mizuho increased their price objective on shares of ConocoPhillips from $121.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. Finally, Truist Financial set a $128.00 price objective on shares of ConocoPhillips in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.12.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ long-term gas supply agreement for the Alaska LNG project adds durable volume visibility and reinforces the company’s role in a large-scale energy infrastructure project. Glenfarne, ConocoPhillips Sign North Slope Gas Sales Precedent Agreement for Alaska LNG
• Positive Sentiment: Reuters reported that the Alaska LNG project now has enough supply commitments to support a final investment decision for Phase One, which reduces project uncertainty and could improve sentiment toward COP. Alaska LNG secures supply deal with ConocoPhillips for pipeline project
• Positive Sentiment: Jefferies raised its price target on ConocoPhillips to $161 and reiterated a Buy rating, signaling continued Wall Street confidence in the stock’s upside. Jefferies adjusts price target on ConocoPhillips
• Positive Sentiment: Articles highlighting rising earnings estimates and momentum-stock characteristics suggest analysts see improving near-term fundamentals, which can support the shares. Earnings Estimates Rising for ConocoPhillips (COP): Will It Gain?

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.