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

Harbour Investments Inc. lowered its position in shares of ConocoPhillips (NYSE:COP) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,141 shares of the energy producer’s stock after selling 433 shares during the quarter. Harbour Investments Inc.’s holdings in ConocoPhillips were worth $1,383,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth about $26,000. Stephens Consulting LLC increased its position in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth about $31,000. Y.D. More Investments Ltd acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth about $35,000. Finally, Fairway Wealth LLC increased its position in shares of ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.0 %

ConocoPhillips stock opened at $112.92 on Friday. The company’s 50 day simple moving average is $107.77 and its 200 day simple moving average is $111.90. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The firm has a market capitalization of $129.96 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 0.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

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

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on COP shares. Susquehanna raised their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Mizuho raised their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.63.

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.