ConocoPhillips (NYSE:COP) Shares Purchased by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 19.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,438 shares of the energy producer’s stock after buying an additional 2,011 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in ConocoPhillips were worth $1,289,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. grew its position in ConocoPhillips by 398.1% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 269 shares of the energy producer’s stock worth $27,000 after purchasing an additional 215 shares in the last quarter. Fairfield Bush & CO. purchased a new position in ConocoPhillips during the 1st quarter worth approximately $31,000. Financial Connections Group Inc. grew its position in ConocoPhillips by 383.3% during the 4th quarter. Financial Connections Group Inc. now owns 290 shares of the energy producer’s stock worth $34,000 after purchasing an additional 230 shares in the last quarter. NewSquare Capital LLC grew its position in ConocoPhillips by 335.4% during the 1st quarter. NewSquare Capital LLC now owns 344 shares of the energy producer’s stock worth $34,000 after purchasing an additional 265 shares in the last quarter. Finally, Horan Securities Inc. boosted its stake in shares of ConocoPhillips by 40.2% during the 1st quarter. Horan Securities Inc. now owns 349 shares of the energy producer’s stock valued at $35,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 80.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $122.14, for a total value of $69,546,516.00. Following the transaction, the chief executive officer now directly owns 18,187 shares in the company, valued at $2,221,360.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on COP shares. Morgan Stanley reissued an “overweight” rating and set a $124.00 target price on shares of ConocoPhillips in a research note on Wednesday, July 19th. Wolfe Research raised shares of ConocoPhillips from a “peer perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Friday, July 7th. Raymond James reduced their price objective on shares of ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating for the company in a research note on Monday, July 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of ConocoPhillips in a research note on Monday, August 14th. Finally, UBS Group lifted their price objective on shares of ConocoPhillips from $127.00 to $147.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given 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 $134.63.

ConocoPhillips Stock Performance

NYSE:COP opened at $123.57 on Monday. The firm’s 50-day moving average is $116.22 and its 200-day moving average is $107.25. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $138.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.28 and a current ratio of 1.41. The company has a market cap of $147.97 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.78 and a beta of 1.30.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.10). The business had revenue of $12.88 billion during the quarter, compared to the consensus estimate of $14.64 billion. ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. During the same period in the previous year, the firm earned $3.91 EPS. Equities research analysts anticipate that ConocoPhillips will post 8.74 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 16th were given a $0.51 dividend. The ex-dividend date was Wednesday, September 27th. This represents a $2.04 dividend on an annualized basis and a yield of 1.65%. ConocoPhillips’s dividend payout ratio (DPR) is presently 19.65%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.