Northbridge Financial Group LLC Buys Shares of 6,066 ConocoPhillips $COP

Northbridge Financial Group LLC acquired a new position in ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,066 shares of the energy producer’s stock, valued at approximately $568,000.

Several other institutional investors have also recently made changes to their positions in the business. Harvest Portfolios Group Inc. lifted its stake in shares of ConocoPhillips by 8.0% in the 4th quarter. Harvest Portfolios Group Inc. now owns 20,579 shares of the energy producer’s stock worth $1,926,000 after purchasing an additional 1,516 shares during the period. PKO BP BANKOWY Universal Pension Society JSC bought a new position in shares of ConocoPhillips in the 4th quarter worth approximately $2,902,000. Hartford Funds Management Co LLC lifted its stake in shares of ConocoPhillips by 3.4% in the 4th quarter. Hartford Funds Management Co LLC now owns 8,685 shares of the energy producer’s stock worth $813,000 after purchasing an additional 287 shares during the period. Csenge Advisory Group increased its stake in shares of ConocoPhillips by 3.7% in the 4th quarter. Csenge Advisory Group now owns 4,833 shares of the energy producer’s stock worth $452,000 after purchasing an additional 171 shares in the last quarter. Finally, Integral Investment Advisors Inc. increased its stake in shares of ConocoPhillips by 33.4% in the 4th quarter. Integral Investment Advisors Inc. now owns 2,938 shares of the energy producer’s stock worth $275,000 after purchasing an additional 735 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.5%

ConocoPhillips stock opened at $125.16 on Wednesday. ConocoPhillips has a 12-month low of $84.28 and a 12-month high of $135.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $152.49 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 1.44 and a beta of 0.14. The firm has a 50 day moving average of $123.37 and a 200 day moving average of $106.90.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the business posted $2.09 EPS. ConocoPhillips’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, research analysts predict that ConocoPhillips will post 9.63 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 2.7%. ConocoPhillips’s payout ratio is currently 57.05%.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ long-term gas supply agreement for the Alaska LNG project adds durable volume visibility and reinforces the company’s role in a large-scale energy infrastructure project. Glenfarne, ConocoPhillips Sign North Slope Gas Sales Precedent Agreement for Alaska LNG
• Positive Sentiment: Reuters reported that the Alaska LNG project now has enough supply commitments to support a final investment decision for Phase One, which reduces project uncertainty and could improve sentiment toward COP. Alaska LNG secures supply deal with ConocoPhillips for pipeline project
• Positive Sentiment: Jefferies raised its price target on ConocoPhillips to $161 and reiterated a Buy rating, signaling continued Wall Street confidence in the stock’s upside. Jefferies adjusts price target on ConocoPhillips
• Positive Sentiment: Articles highlighting rising earnings estimates and momentum-stock characteristics suggest analysts see improving near-term fundamentals, which can support the shares. Earnings Estimates Rising for ConocoPhillips (COP): Will It Gain?

Insider Buying and Selling

In related news, SVP Kelly Brunetti Rose sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $118.04, for a total value of $1,003,340.00. Following the transaction, the senior vice president directly owned 32,984 shares of the company’s stock, valued at approximately $3,893,431.36. The trade was a 20.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Andrew D. Lundquist sold 34,500 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $4,128,960.00. Following the completion of the transaction, the senior vice president directly owned 17,469 shares in the company, valued at approximately $2,090,689.92. This represents a 66.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 734,891 shares of company stock worth $93,345,692 in the last quarter. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

COP has been the subject of several analyst reports. Mizuho upped their price objective on ConocoPhillips from $121.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Raymond James Financial upped their price objective on ConocoPhillips from $118.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Jefferies Financial Group upped their price objective on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Roth Mkm lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 target price for the company. in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.12.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.