Newbridge Financial Services Group Inc. Has $108,000 Position in ConocoPhillips (NYSE:COP)

Newbridge Financial Services Group Inc. increased its stake in shares of ConocoPhillips (NYSE:COP) by 1,406.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,085 shares of the energy producer’s stock after purchasing 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.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Albion Financial Group UT lifted its stake in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. Values First Advisors Inc. acquired a new position in ConocoPhillips in the 3rd quarter worth about $26,000. Reston Wealth Management LLC bought a new position in ConocoPhillips in the third quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the third quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates grew its holdings in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Wells Fargo & Company cut their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday. Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $157.00 to $124.00 in a report on Monday. Barclays cut their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Truist Financial increased their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Two equities research 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, the company currently has an average rating of “Moderate Buy” and an average price target of $133.72.

Insider Buying and Selling

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

ConocoPhillips Trading Up 1.0 %

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 company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $114.39 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.77 and a beta of 1.18. The firm has a fifty day simple moving average of $101.05 and a two-hundred day simple moving average of $106.11.

ConocoPhillips (NYSE:COP) last issued 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%. Analysts expect that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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