ConocoPhillips (NYSE:COP) Stake Raised by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its holdings in ConocoPhillips (NYSE:COP) by 1,364.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,211 shares of the energy producer’s stock after buying an additional 24,421 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in ConocoPhillips were worth $2,753,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Gray Wealth Management Inc. increased its holdings in shares of ConocoPhillips by 5.0% during the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock valued at $215,000 after purchasing an additional 104 shares during the period. Plancorp LLC grew its position in ConocoPhillips by 2.7% in the 4th quarter. Plancorp LLC now owns 4,018 shares of the energy producer’s stock valued at $399,000 after buying an additional 104 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in ConocoPhillips by 3.7% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer’s stock valued at $289,000 after buying an additional 105 shares during the period. Councilmark Asset Management LLC increased its stake in ConocoPhillips by 0.5% during the 4th quarter. Councilmark Asset Management LLC now owns 19,639 shares of the energy producer’s stock valued at $1,948,000 after buying an additional 106 shares during the period. Finally, Second Line Capital LLC lifted its stake in shares of ConocoPhillips by 2.2% in the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer’s stock worth $495,000 after acquiring an additional 108 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on COP shares. Bank of America lowered their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Wells Fargo & Company lowered their price target on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. Mizuho cut their price objective on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Scotiabank lowered their target price on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Finally, Susquehanna cut their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a report on Monday, May 12th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.30.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $93.33 on Thursday. The company’s fifty day moving average is $88.44 and its two-hundred day moving average is $96.09. The company has a market cap of $117.98 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same quarter in the previous year, the company posted $2.05 earnings per share. Equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.34%. ConocoPhillips’s dividend payout ratio is 39.64%.

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.