Oak Harvest Investment Services Invests $210,000 in ConocoPhillips (NYSE:COP)

Oak Harvest Investment Services acquired a new stake in ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,649 shares of the energy producer’s stock, valued at approximately $210,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of ConocoPhillips during the third quarter valued at approximately $27,000. West Branch Capital LLC increased its stake in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Cooksen Wealth LLC acquired a new position in ConocoPhillips during the fourth quarter worth $27,000. Sachetta LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at $27,000. Finally, Richardson Capital Management LLC acquired a new position in shares of ConocoPhillips during the first quarter valued at about $31,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $114.77 on Friday. The firm has a 50 day moving average of $117.09 and a 200-day moving average of $117.57. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $134.23 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 2.05 and a beta of 1.23. ConocoPhillips has a 12 month low of $99.35 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, sell-side analysts predict that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.72%. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COP. Morgan Stanley boosted their price objective on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Raymond James reiterated a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Bank of America restated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada boosted their target price on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.18.

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.