Bull Harbor Capital LLC Invests $579,000 in ConocoPhillips $COP

Bull Harbor Capital LLC bought a new position in shares of ConocoPhillips (NYSE:COP) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,388 shares of the energy producer’s stock, valued at approximately $579,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $25,000. Strive Asset Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $28,000. Frazier Financial Advisors LLC grew its position in shares of ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares during the period. BNP Paribas acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $33,000. Finally, Optima Capital LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Wolfe Research lifted their price target on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. UBS Group dropped their price objective on shares of ConocoPhillips from $155.00 to $143.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Citigroup increased their price objective on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Finally, Susquehanna raised their target price on ConocoPhillips from $152.00 to $155.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $134.16.

ConocoPhillips Stock Performance

Shares of COP stock opened at $118.94 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $112.98 and a two-hundred day simple moving average of $114.89. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The firm has a market capitalization of $144.90 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.43 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the firm earned $2.09 earnings per share. Analysts forecast that ConocoPhillips will post 9.2 EPS for the current fiscal year.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.