Tower Bridge Advisors Has $755,000 Holdings in ConocoPhillips (NYSE:COP)

Tower Bridge Advisors raised its position in ConocoPhillips (NYSE:COP) by 1.8% during the fourth quarter, Holdings Channel reports. 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 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of COP. State Street Corp boosted its position in ConocoPhillips by 19.0% during the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the period. Fisher Asset Management LLC boosted its position in shares of ConocoPhillips by 59.7% during the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares in the last quarter. Pacer Advisors Inc. grew its stake in ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after purchasing an additional 4,504,653 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock worth $438,690,000 after purchasing an additional 3,541,504 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on COP. Piper Sandler cut their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research note on Thursday, January 30th. Truist Financial upped their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Raymond James downgraded ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $133.47.

Insiders Place Their Bets

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Stock Up 1.8 %

COP stock opened at $99.12 on Friday. The firm has a market capitalization of $126.12 billion, a PE ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The stock’s 50 day moving average is $100.19 and its 200-day moving average is $105.08.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. Sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

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.