Clear Harbor Asset Management LLC Makes New $224,000 Investment in ConocoPhillips (NYSE:COP)

Clear Harbor Asset Management LLC bought a new stake in ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,261 shares of the energy producer’s stock, valued at approximately $224,000.

Other large investors also recently made changes to their positions in the company. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $26,000. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the third quarter valued at approximately $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips during the third quarter worth approximately $31,000. RPg Family Wealth Advisory LLC bought a new position in ConocoPhillips during the 3rd quarter worth $35,000. Finally, Global Wealth Strategies & Associates raised its holdings in ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of recent analyst reports. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets increased their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Piper Sandler decreased their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $136.00.

Insider Activity

In other news, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 1.2 %

Shares of NYSE COP opened at $103.02 on Thursday. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. 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 firm has a market cap of $118.57 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.88 and a beta of 1.19. The company has a 50 day simple moving average of $103.54 and a 200 day simple moving average of $107.25.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results 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 company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.16 earnings per share. On average, research analysts forecast that ConocoPhillips will post 7.68 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

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.