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

Oak Harbor Wealth Partners LLC raised its position in ConocoPhillips (NYSE:COP) by 10.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,050 shares of the energy producer’s stock after purchasing 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 SEC filing.

Several other large investors have also recently bought and sold shares of COP. Values First Advisors Inc. bought a new position in shares of ConocoPhillips during the third quarter worth about $26,000. Stephens Consulting LLC raised its position in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in ConocoPhillips during the third quarter worth approximately $31,000. Y.D. More Investments Ltd acquired a new stake in ConocoPhillips during the second quarter worth approximately $35,000. Finally, Fairway Wealth LLC grew its stake in ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after purchasing an additional 153 shares during the period. 82.36% of the stock is currently owned by institutional investors.

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 company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a 50 day moving average price of $107.77 and a 200 day moving average price of $111.90. The firm has a market capitalization of $129.96 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the business earned $2.16 EPS. The business’s revenue was down 8.5% on a year-over-year basis. Sell-side analysts anticipate 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. Shareholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.76%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is presently 37.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COP shares. Susquehanna raised their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Mizuho raised their target price on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Barclays raised their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

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.