RFG Advisory LLC Lowers Position in ConocoPhillips (NYSE:COP)

RFG Advisory LLC cut its stake in ConocoPhillips (NYSE:COP) by 5.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,881 shares of the energy producer’s stock after selling 259 shares during the period. RFG Advisory LLC’s holdings in ConocoPhillips were worth $621,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Orion Capital Management LLC bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $27,000. West Branch Capital LLC increased its stake in shares of ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Sachetta LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $27,000. Cooksen Wealth LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $27,000. Finally, Cape Investment Advisory Inc. increased its stake in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COP has been the subject of several analyst reports. Susquehanna raised their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Barclays boosted their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Piper Sandler boosted their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Royal Bank of Canada boosted their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Finally, Wells Fargo & Company boosted their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $144.18.

ConocoPhillips Trading Up 3.4 %

Shares of COP stock opened at $115.17 on Tuesday. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The firm has a fifty day moving average price of $119.46 and a 200-day moving average price of $117.55. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The company has a market cap of $134.69 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.98 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. As a group, equities analysts predict that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

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.