Retirement Investment Advisors Inc. Makes New Investment in ConocoPhillips (NYSE:COP)

Retirement Investment Advisors Inc. purchased a new position in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,383 shares of the energy producer’s stock, valued at approximately $730,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sachetta LLC acquired a new position in ConocoPhillips in the 4th quarter valued at about $27,000. Cooksen Wealth LLC acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. grew its position in ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after acquiring an additional 121 shares during the period. Stephens Consulting LLC increased its stake in 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. Finally, Richardson Capital Management LLC purchased a new stake in ConocoPhillips in the first quarter valued at $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $110.51 on Friday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The stock has a market capitalization of $129.25 billion, a PE ratio of 12.52, a PEG ratio of 0.78 and a beta of 1.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The stock has a 50-day simple moving average of $109.82 and a 200-day simple moving average of $116.55.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. On average, analysts predict that ConocoPhillips will post 8.41 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.10%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Barclays lifted their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Mizuho decreased their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Monday. UBS Group lowered their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Wolfe Research began coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.29.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

ConocoPhillips 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.