Harvest Portfolios Group Inc. Purchases 2,541 Shares of ConocoPhillips (NYSE:COP)

Harvest Portfolios Group Inc. grew its position in ConocoPhillips (NYSE:COP) by 20.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,901 shares of the energy producer’s stock after acquiring an additional 2,541 shares during the period. Harvest Portfolios Group Inc.’s holdings in ConocoPhillips were worth $1,569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. AHL Investment Management Inc. boosted its stake in ConocoPhillips by 104.8% in the third quarter. AHL Investment Management Inc. now owns 4,582 shares of the energy producer’s stock worth $482,000 after purchasing an additional 2,345 shares in the last quarter. 1834 Investment Advisors Co. lifted its position in ConocoPhillips by 1.8% during the 3rd quarter. 1834 Investment Advisors Co. now owns 8,167 shares of the energy producer’s stock worth $860,000 after buying an additional 141 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in ConocoPhillips by 2.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 12,441 shares of the energy producer’s stock valued at $1,310,000 after acquiring an additional 270 shares in the last quarter. Balentine LLC raised its stake in shares of ConocoPhillips by 48.9% in the third quarter. Balentine LLC now owns 6,153 shares of the energy producer’s stock worth $648,000 after acquiring an additional 2,020 shares during the last quarter. Finally, HF Advisory Group LLC lifted its position in shares of ConocoPhillips by 44.3% during the third quarter. HF Advisory Group LLC now owns 14,504 shares of the energy producer’s stock worth $1,527,000 after purchasing an additional 4,452 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE COP opened at $113.60 on Thursday. The company has a fifty day moving average price of $107.81 and a 200-day moving average price of $112.53. The firm has a market cap of $130.74 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.89 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $13.97 billion. During the same period in the prior year, the firm posted $2.16 EPS. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, equities research analysts predict that ConocoPhillips will post 7.79 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a $0.78 dividend. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.75%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 27.59%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Barclays raised their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. BMO Capital Markets lifted their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

Insider Buying and Selling at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.