Harbor Investment Advisory LLC Has $65,000 Holdings in ConocoPhillips $COP

Key Points

• Harbor Investment Advisory LLC has significantly reduced its stake in ConocoPhillips by 90.4%, selling 6,785 shares and now holding only 719 shares valued at $65,000.
• ConocoPhillips recently reported strong quarterly earnings, with an EPS of $1.42 surpassing analyst estimates, and revenue of $14.94 billion, a 4.3% increase from the previous year.
• The company announced a quarterly dividend of $0.78 per share, resulting in an annualized dividend yield of 3.4%, with a payout ratio of 41.88%.

Harbor Investment Advisory LLC lowered its stake in ConocoPhillips (NYSE:COP - Free Report) by 90.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 719 shares of the energy producer's stock after selling 6,785 shares during the quarter. Harbor Investment Advisory LLC's holdings in ConocoPhillips were worth $65,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. First National Bank Sioux Falls raised its position in shares of ConocoPhillips by 4.6% in the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer's stock valued at $231,000 after purchasing an additional 113 shares during the period. Howe & Rusling Inc. boosted its position in ConocoPhillips by 4.4% during the 1st quarter. Howe & Rusling Inc. now owns 5,188 shares of the energy producer's stock worth $545,000 after buying an additional 217 shares during the period. Lynx Investment Advisory raised its holdings in ConocoPhillips by 316.6% during the 1st quarter. Lynx Investment Advisory now owns 10,769 shares of the energy producer's stock worth $1,131,000 after purchasing an additional 8,184 shares during the last quarter. eCIO Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter valued at $107,000. Finally, First Hawaiian Bank increased its stake in ConocoPhillips by 23.1% during the 1st quarter. First Hawaiian Bank now owns 33,736 shares of the energy producer's stock valued at $3,543,000 after purchasing an additional 6,335 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of NYSE COP traded down $1.59 during mid-day trading on Friday, reaching $91.89. 15,283,514 shares of the company traded hands, compared to its average volume of 5,903,118. The stock has a fifty day simple moving average of $94.59 and a 200-day simple moving average of $92.91. The firm has a market cap of $114.77 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter last year, the firm posted $1.98 EPS. The business's quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.4%. ConocoPhillips's dividend payout ratio is 41.88%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley reiterated an "overweight" rating and set a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Melius started coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price objective on the stock. Wells Fargo & Company reissued an "overweight" rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Susquehanna cut their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Finally, Scotiabank lifted their price objective on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $120.62.

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.