Harvest Portfolios Group Inc. Acquires 2,541 Shares of ConocoPhillips (NYSE:COP)

Harvest Portfolios Group Inc. grew its holdings in ConocoPhillips (NYSE:COP) by 20.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,901 shares of the energy producer’s stock after purchasing an additional 2,541 shares during the period. Harvest Portfolios Group Inc.’s holdings in ConocoPhillips were worth $1,569,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Values First Advisors Inc. bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $26,000. Stephens Consulting LLC raised its stake in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC purchased a new position in ConocoPhillips in the 3rd quarter worth approximately $31,000. Y.D. More Investments Ltd purchased a new position in ConocoPhillips in the 2nd quarter worth approximately $35,000. Finally, Fairway Wealth LLC increased its holdings in shares of ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after buying an additional 153 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on COP. Wolfe Research started coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. UBS Group reduced their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Finally, Truist Financial decreased their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Trading Up 4.0 %

Shares of NYSE:COP opened at $113.60 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market capitalization of $130.74 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.89 and a beta of 1.21. The stock’s 50-day simple moving average is $107.81 and its two-hundred day simple moving average is $112.53. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the business earned $2.16 earnings per share. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. Analysts expect that ConocoPhillips will post 7.79 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.75%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s payout ratio is presently 27.59%.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by company insiders.

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.