Everett Harris & Co. CA Raises Holdings in ConocoPhillips (NYSE:COP)

Everett Harris & Co. CA grew its position in shares of ConocoPhillips (NYSE:COP) by 6.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,322 shares of the energy producer’s stock after purchasing an additional 500 shares during the quarter. Everett Harris & Co. CA’s holdings in ConocoPhillips were worth $876,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of COP. Harbor Investment Advisory LLC grew its holdings in ConocoPhillips by 2.2% in the first quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock valued at $1,234,000 after purchasing an additional 212 shares during the period. First Trust Direct Indexing L.P. increased its position in shares of ConocoPhillips by 5.6% during the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock worth $3,320,000 after purchasing an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at about $30,021,000. EP Wealth Advisors LLC grew its stake in ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after acquiring an additional 4,578 shares in the last quarter. Finally, Norden Group LLC raised its holdings in ConocoPhillips by 2,634.9% in the 1st quarter. Norden Group LLC now owns 124,440 shares of the energy producer’s stock valued at $15,838,000 after acquiring an additional 119,890 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $105.67 on Friday. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm has a market capitalization of $122.71 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The business’s fifty day moving average price is $109.01 and its 200 day moving average price is $114.78.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. The business 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 business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $1.84 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 7.99 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 25.86%.

Analysts Set New Price Targets

A number of brokerages recently commented on COP. UBS Group reduced their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Sanford C. Bernstein decreased their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.94.

ConocoPhillips Company 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.