ConocoPhillips (NYSE:COP) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its position in ConocoPhillips (NYSE:COP) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,790 shares of the energy producer’s stock after acquiring an additional 142 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in ConocoPhillips were worth $178,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter worth about $26,000. Reston Wealth Management LLC acquired a new position in ConocoPhillips during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. Global Wealth Strategies & Associates increased its position in shares of 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 purchasing an additional 153 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 0.5 %

NYSE:COP opened at $105.45 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The stock’s 50 day simple moving average is $104.21 and its 200-day simple moving average is $107.56. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The firm has a market cap of $121.36 billion, a P/E ratio of 12.54, a PEG ratio of 0.83 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating 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 company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the previous year, the company posted $2.16 EPS. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. Equities analysts anticipate that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued 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 dividend yield of 2.96%. The ex-dividend date was Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Analysts Set New Price Targets

Several research firms recently commented on COP. Piper Sandler dropped their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. BMO Capital Markets upped their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Truist Financial increased their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $136.65.

Insider Activity at ConocoPhillips

In related news, Director R A. Walker purchased 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now 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. Company insiders own 0.34% of the company’s stock.

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.