Oak Harbor Wealth Partners LLC Purchases 200 Shares of ConocoPhillips (NYSE:COP)

Oak Harbor Wealth Partners LLC grew its holdings in ConocoPhillips (NYSE:COP) by 10.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,050 shares of the energy producer’s stock after buying an additional 200 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in ConocoPhillips were worth $216,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. EP Wealth Advisors LLC raised its position in shares of ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after purchasing an additional 4,578 shares during the period. Manning & Napier Advisors LLC acquired a new stake in ConocoPhillips during the 2nd quarter worth approximately $30,021,000. Alpha DNA Investment Management LLC raised its holdings in ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after acquiring an additional 7,490 shares in the last quarter. TCW Group Inc. raised its holdings in shares of ConocoPhillips by 37.8% during the 2nd quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock worth $3,434,000 after buying an additional 8,231 shares in the last quarter. Finally, Doheny Asset Management CA bought a new stake in ConocoPhillips during the 2nd quarter worth $815,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $112.92 on Friday. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The firm’s 50 day moving average price is $107.77 and its 200-day moving average price is $111.90. The firm has a market cap of $129.96 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s revenue was down 8.5% on a year-over-year basis. During the same period last year, the firm posted $2.16 EPS. As a group, equities research analysts predict that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analyst Ratings Changes

Several equities research analysts recently commented on COP shares. UBS Group cut their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Truist Financial reduced their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Barclays raised their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, BMO Capital Markets increased their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

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.