Harbor Investment Advisory LLC Boosts Stock Position in ConocoPhillips (NYSE:COP)

Harbor Investment Advisory LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,769 shares of the energy producer’s stock after purchasing an additional 749 shares during the period. Harbor Investment Advisory LLC’s holdings in ConocoPhillips were worth $1,028,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Valued Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after buying an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its position in shares of ConocoPhillips by 4.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after buying an additional 85 shares during the last quarter. Manchester Capital Management LLC lifted its position in shares of ConocoPhillips by 22.1% during the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock valued at $60,000 after buying an additional 86 shares during the last quarter. Adirondack Trust Co. lifted its position in shares of ConocoPhillips by 3.1% during the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after buying an additional 90 shares during the last quarter. Finally, Mayfair Advisory Group LLC lifted its position in shares of ConocoPhillips by 3.5% during the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COP. Sanford C. Bernstein dropped their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Bank of America reiterated a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research note on Friday, June 14th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wells Fargo & Company decreased their price objective on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Finally, Wolfe Research assumed coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $138.29.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $114.54 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $133.96 billion, a P/E ratio of 12.97, a P/E/G ratio of 0.82 and a beta of 1.21. The stock’s 50-day simple moving average is $108.77 and its two-hundred day simple moving average is $115.98. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 8.12 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.03%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

About ConocoPhillips

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.