RPG Investment Advisory LLC Has $7.78 Million Stock Holdings in ConocoPhillips $COP

RPG Investment Advisory LLC reduced its holdings in ConocoPhillips (NYSE:COP) by 49.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 86,736 shares of the energy producer’s stock after selling 84,682 shares during the period. RPG Investment Advisory LLC’s holdings in ConocoPhillips were worth $7,784,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of COP. Laurel Wealth Advisors LLC raised its position in shares of ConocoPhillips by 8,148.3% during the second quarter. Laurel Wealth Advisors LLC now owns 917,788 shares of the energy producer’s stock valued at $82,362,000 after buying an additional 906,661 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of ConocoPhillips by 2.7% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 131,585 shares of the energy producer’s stock worth $11,808,000 after acquiring an additional 3,511 shares during the period. South Plains Financial Inc. increased its stake in ConocoPhillips by 48.7% in the second quarter. South Plains Financial Inc. now owns 3,385 shares of the energy producer’s stock valued at $304,000 after acquiring an additional 1,108 shares during the period. Insigneo Advisory Services LLC grew its stake in shares of ConocoPhillips by 4.3% in the 2nd quarter. Insigneo Advisory Services LLC now owns 14,066 shares of the energy producer’s stock valued at $1,262,000 after purchasing an additional 581 shares during the period. Finally, CreativeOne Wealth LLC lifted its holdings in shares of ConocoPhillips by 5.9% during the second quarter. CreativeOne Wealth LLC now owns 28,057 shares of the energy producer’s stock valued at $2,518,000 after acquiring an additional 1,562 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $87.69 on Tuesday. The business has a 50-day simple moving average of $90.38 and a two-hundred day simple moving average of $91.92. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $111.96. The stock has a market cap of $108.36 billion, a PE ratio of 11.77, a PEG ratio of 2.36 and a beta of 0.58.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. During the same quarter in the previous year, the company earned $1.78 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is currently 47.52%.

Wall Street Analyst Weigh In

A number of research firms have commented on COP. UBS Group reduced their price objective on ConocoPhillips from $122.00 to $117.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Jefferies Financial Group cut their price target on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Melius assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Melius Research assumed coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price for the company. Finally, Barclays cut their price objective on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Nineteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.16.

Insiders Place Their Bets

In other news, Director William H. Mcraven acquired 5,768 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was purchased at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the purchase, the director owned 5,768 shares in the company, valued at approximately $499,970.24. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.24% 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.