Flagship Harbor Advisors LLC Buys 6,987 Shares of ConocoPhillips (NYSE:COP)

Flagship Harbor Advisors LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 43.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,969 shares of the energy producer's stock after acquiring an additional 6,987 shares during the quarter. Flagship Harbor Advisors LLC's holdings in ConocoPhillips were worth $2,412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips in the fourth quarter worth approximately $26,000. 10Elms LLP bought a new position in ConocoPhillips during the 4th quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $32,000. Garde Capital Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter valued at $35,000. Finally, Canton Hathaway LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $36,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 0.8%

Shares of NYSE:COP traded down $0.69 during midday trading on Friday, hitting $90.20. 7,421,054 shares of the company's stock were exchanged, compared to its average volume of 7,525,606. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40. The company has a market cap of $114.03 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 2.41 and a beta of 0.61. The stock has a 50 day moving average price of $89.93 and a 200-day moving average price of $95.15.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period in the previous year, the company posted $2.05 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on COP shares. Susquehanna dropped their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a report on Monday, May 12th. Barclays cut their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. UBS Group lowered their target price on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Mizuho dropped their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Raymond James Financial restated an "outperform" rating and set a $109.00 price target (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $121.50.

Insider Buying and Selling

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president now directly owns 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by corporate insiders.

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, 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.