Harbor Investment Advisory LLC Grows Position in ConocoPhillips (NYSE:COP)

Harbor Investment Advisory LLC increased its position in ConocoPhillips (NYSE:COP) by 2.2% in the first quarter, HoldingsChannel reports. The firm owned 9,697 shares of the energy producer’s stock after purchasing an additional 212 shares during the quarter. Harbor Investment Advisory LLC’s holdings in ConocoPhillips were worth $1,234,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. raised its stake in ConocoPhillips by 76.7% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 3,893 shares of the energy producer’s stock valued at $495,000 after buying an additional 1,690 shares during the last quarter. Global Assets Advisory LLC purchased a new position in ConocoPhillips during the first quarter valued at $1,933,000. Southland Equity Partners LLC raised its stake in ConocoPhillips by 10.4% during the first quarter. Southland Equity Partners LLC now owns 3,241 shares of the energy producer’s stock valued at $413,000 after buying an additional 304 shares during the last quarter. Range Financial Group LLC bought a new stake in shares of ConocoPhillips in the 1st quarter worth $240,000. Finally, AdvisorNet Financial Inc increased its holdings in shares of ConocoPhillips by 27.5% in the 1st quarter. AdvisorNet Financial Inc now owns 3,734 shares of the energy producer’s stock worth $475,000 after purchasing an additional 806 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Royal Bank of Canada lifted their target price on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Barclays lifted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 price objective (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Scotiabank lifted their price objective on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company boosted their price target on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Stock Up 3.4 %

Shares of NYSE COP opened at $115.17 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $134.69 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.98 and a beta of 1.23. The stock’s fifty day simple moving average is $119.46 and its two-hundred day simple moving average is $117.55. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, analysts expect that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.71%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

About ConocoPhillips

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.