SevenBridge Financial Group LLC Acquires 699 Shares of ConocoPhillips (NYSE:COP)

SevenBridge Financial Group LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 7.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,673 shares of the energy producer’s stock after purchasing an additional 699 shares during the period. SevenBridge Financial Group LLC’s holdings in ConocoPhillips were worth $1,086,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Orrstown Financial Services Inc. raised its position in shares of ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock valued at $331,000 after acquiring an additional 96 shares during the period. Principle Wealth Partners LLC raised its holdings in ConocoPhillips by 0.3% in the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer’s stock worth $3,695,000 after purchasing an additional 100 shares during the period. Arlington Trust Co LLC boosted its position in shares of ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer’s stock worth $857,000 after purchasing an additional 102 shares in the last quarter. Courier Capital LLC grew its holdings in shares of ConocoPhillips by 0.5% in the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer’s stock valued at $2,031,000 after buying an additional 103 shares during the period. Finally, Gray Wealth Management Inc. increased its position in shares of ConocoPhillips by 5.0% in the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock valued at $215,000 after buying an additional 104 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.3 %

Shares of COP stock opened at $105.35 on Wednesday. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The firm has a 50 day moving average price of $98.96 and a two-hundred day moving average price of $103.31. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $134.05 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

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

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio is 40.05%.

Analysts Set New Price Targets

COP has been the subject of several research reports. Barclays decreased their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Two research 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. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $132.95.

ConocoPhillips 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.