SevenBridge Financial Group LLC Has $1.09 Million Stock Position in ConocoPhillips (NYSE:COP)

SevenBridge Financial Group LLC boosted its stake in ConocoPhillips (NYSE:COP) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,673 shares of the energy producer’s stock after purchasing an additional 699 shares during the quarter. SevenBridge Financial Group LLC’s holdings in ConocoPhillips were worth $1,086,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bridgewater Associates LP increased its stake in ConocoPhillips by 58.9% in the third quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock valued at $324,000 after acquiring an additional 1,141 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at $403,000. Benjamin Edwards Inc. increased its stake in shares of ConocoPhillips by 489.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 26,711 shares of the energy producer’s stock valued at $2,814,000 after purchasing an additional 22,182 shares during the last quarter. Hilltop Holdings Inc. raised its holdings in shares of ConocoPhillips by 56.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 22,908 shares of the energy producer’s stock worth $2,412,000 after buying an additional 8,310 shares in the last quarter. Finally, Investment Management Corp of Ontario lifted its position in shares of ConocoPhillips by 47.7% during the 3rd quarter. Investment Management Corp of Ontario now owns 38,710 shares of the energy producer’s stock worth $4,075,000 after buying an additional 12,500 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on COP shares. JPMorgan Chase & Co. decreased their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Truist Financial upped their price objective 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. Piper Sandler cut their target price 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. Barclays dropped their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Evercore ISI restated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.95.

ConocoPhillips Stock Performance

Shares of COP opened at $105.35 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm’s fifty day simple moving average is $98.96 and its two-hundred day simple moving average is $103.31. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The stock has a market capitalization of $134.05 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last announced its 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 return on equity of 17.26% and a net margin of 16.23%. As a group, analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 2.96%. ConocoPhillips’s dividend payout ratio is currently 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.