Bridges Investment Management Inc. Has $1.47 Million Stock Position in ConocoPhillips $COP

by · The Markets Daily

Bridges Investment Management Inc. reduced its position in ConocoPhillips (NYSE:COP – Free Report) by 1.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 16,335 shares of the energy producer’s stock after selling 160 shares during the period. Bridges Investment Management Inc.’s holdings in ConocoPhillips were worth $1,466,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Financial Network Wealth Advisors LLC lifted its stake in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips in the 1st quarter valued at about $31,000. Garde Capital Inc. acquired a new stake in ConocoPhillips in the 1st quarter valued at about $35,000. IMA Advisory Services Inc. acquired a new stake in ConocoPhillips in the 1st quarter valued at about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in ConocoPhillips by 418.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after acquiring an additional 293 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 1.0%

Shares of COP opened at $86.83 on Friday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $115.38. The firm’s 50 day moving average is $94.19 and its 200-day moving average is $92.16. The stock has a market capitalization of $108.45 billion, a PE ratio of 11.66, a P/E/G ratio of 2.35 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP – Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same period last year, the firm earned $1.98 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Analysts Set New Price Targets

Several research analysts have weighed in on COP shares. Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a report on Wednesday, October 8th. Roth Capital lowered their price target on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler lowered their price target on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday. Wells Fargo & Company reissued an “overweight” rating and issued a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Finally, UBS Group lowered their target price on shares of ConocoPhillips from $124.00 to $122.00 and set a “buy” rating on the stock in a report on Monday. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $116.78.

Get Our Latest Stock Analysis on COP

ConocoPhillips Profile

(Free Report)

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.

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