Harbor Investment Advisory LLC Sells 2,143 Shares of ConocoPhillips (NYSE:COP)

Harbor Investment Advisory LLC cut its position in ConocoPhillips (NYSE:COP) by 21.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,626 shares of the energy producer’s stock after selling 2,143 shares during the period. Harbor Investment Advisory LLC’s holdings in ConocoPhillips were worth $756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips in the third quarter valued at about $26,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips in the 3rd quarter worth about $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at about $31,000. RPg Family Wealth Advisory LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $35,000. Finally, Global Wealth Strategies & Associates increased its holdings in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Analysts Set New Price Targets

COP has been the subject of several recent research reports. Morgan Stanley assumed coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. Wells Fargo & Company cut their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Susquehanna raised their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. TD Cowen began coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Truist Financial raised their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $136.00.

ConocoPhillips Stock Down 1.5 %

Shares of COP opened at $104.25 on Wednesday. The stock has a market capitalization of $119.98 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.88 and a beta of 1.19. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a fifty day moving average of $103.67 and a 200-day moving average of $107.31.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the firm posted $2.16 earnings per share. The business’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that ConocoPhillips will post 7.68 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm 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 is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend 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.