Tower Bridge Advisors Purchases 132 Shares of ConocoPhillips (NYSE:COP)

Tower Bridge Advisors lifted its position in shares of ConocoPhillips (NYSE:COP) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,611 shares of the energy producer’s stock after purchasing an additional 132 shares during the period. Tower Bridge Advisors’ holdings in ConocoPhillips were worth $755,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. AMF Tjanstepension AB boosted its position in shares of ConocoPhillips by 4.7% in the third quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock valued at $122,628,000 after acquiring an additional 52,334 shares during the period. Mutual Advisors LLC raised its stake in ConocoPhillips by 3.0% in the 3rd quarter. Mutual Advisors LLC now owns 13,739 shares of the energy producer’s stock worth $1,434,000 after purchasing an additional 398 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in ConocoPhillips by 7.3% in the 3rd quarter. Diversify Wealth Management LLC now owns 3,106 shares of the energy producer’s stock valued at $325,000 after purchasing an additional 212 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of ConocoPhillips by 1.3% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 246,504 shares of the energy producer’s stock worth $25,952,000 after purchasing an additional 3,202 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the third quarter worth approximately $31,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Truist Financial boosted 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. Wells Fargo & Company cut their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. UBS Group decreased their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. TD Cowen initiated coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Morgan Stanley initiated coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.47.

Insider Transactions at ConocoPhillips

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

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $99.12 on Friday. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company has a market cap of $126.12 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 0.79 and a beta of 1.18. The firm has a 50 day simple moving average of $100.19 and a 200 day simple moving average of $105.08.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating 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%. Research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend 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.