Harbour Investments Inc. Has $1.38 Million Stock Position in ConocoPhillips (NYSE:COP)

Harbour Investments Inc. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,141 shares of the energy producer’s stock after selling 433 shares during the period. Harbour Investments Inc.’s holdings in ConocoPhillips were worth $1,383,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $26,000. Stephens Consulting LLC raised its holdings in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Y.D. More Investments Ltd acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $35,000. Finally, Fairway Wealth LLC raised its holdings in shares of ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after purchasing an additional 153 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Susquehanna lifted their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Wolfe Research started coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective on the stock. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Truist Financial lowered their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Trading Up 1.0 %

COP stock opened at $112.92 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a fifty day moving average price of $107.77 and a two-hundred day moving average price of $111.90. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The stock has a market cap of $129.96 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.90 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 earnings per share. Equities analysts anticipate that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is presently 37.10%.

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.