ConocoPhillips (NYSE:COP) Shares Acquired by RFG Advisory LLC

by · The Markets Daily

RFG Advisory LLC boosted its stake in ConocoPhillips (NYSE:COP – Free Report) by 71.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 12,400 shares of the energy producer’s stock after acquiring an additional 5,149 shares during the quarter. RFG Advisory LLC’s holdings in ConocoPhillips were worth $1,302,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in COP. Price T Rowe Associates Inc. MD raised its position in ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares in the last quarter. Leavell Investment Management Inc. increased its position in ConocoPhillips by 59.8% during the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after buying an additional 7,174 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of ConocoPhillips by 11.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer’s stock valued at $50,345,000 after acquiring an additional 54,196 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of ConocoPhillips by 7.4% during the 4th quarter. New York State Teachers Retirement System now owns 1,170,901 shares of the energy producer’s stock worth $116,118,000 after buying an additional 80,199 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in ConocoPhillips by 26.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 43,384 shares of the energy producer’s stock valued at $4,302,000 after acquiring an additional 9,002 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $86.00 on Thursday. The company has a fifty day moving average price of $89.50 and a 200 day moving average price of $96.91. The firm has a market cap of $108.72 billion, a PE ratio of 11.04, a PEG ratio of 0.79 and a beta of 0.61. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40.

ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period last year, the company earned $2.05 earnings per share. Research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

Analyst Ratings Changes

Several brokerages have recently issued reports on COP. Royal Bank of Canada lowered their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Morgan Stanley boosted their price target on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. UBS Group dropped their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Piper Sandler reduced their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Finally, Susquehanna decreased their price objective on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $121.63.

Check Out Our Latest Report on ConocoPhillips

About ConocoPhillips

(Free Report)

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.

Further Reading

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