RFG Advisory LLC Boosts Stock Position in ConocoPhillips (NYSE:COP)

RFG Advisory LLC raised its stake in ConocoPhillips (NYSE:COP) by 72.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,251 shares of the energy producer’s stock after purchasing an additional 3,035 shares during the quarter. RFG Advisory LLC’s holdings in ConocoPhillips were worth $719,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Cornerstone Wealth Management LLC increased its stake in ConocoPhillips by 9.7% in the 4th quarter. Cornerstone Wealth Management LLC now owns 13,949 shares of the energy producer’s stock valued at $1,383,000 after buying an additional 1,239 shares during the period. Sustainable Insight Capital Management LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $486,000. Hengehold Capital Management LLC increased its stake in shares of ConocoPhillips by 8.4% during the fourth quarter. Hengehold Capital Management LLC now owns 2,327 shares of the energy producer’s stock worth $231,000 after acquiring an additional 181 shares during the period. Montecito Bank & Trust raised its holdings in ConocoPhillips by 5.2% during the fourth quarter. Montecito Bank & Trust now owns 13,804 shares of the energy producer’s stock worth $1,369,000 after purchasing an additional 684 shares in the last quarter. Finally, Cerro Pacific Wealth Advisors LLC lifted its position in ConocoPhillips by 0.7% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 15,523 shares of the energy producer’s stock valued at $1,634,000 after purchasing an additional 105 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COP. Raymond James boosted their target price on ConocoPhillips from $148.00 to $157.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Scotiabank cut their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Truist Financial boosted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $135.89.

Insider Activity

In other news, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $101.88 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a market cap of $117.26 billion, a PE ratio of 12.11, a P/E/G ratio of 0.86 and a beta of 1.19. The firm has a 50 day simple moving average of $102.98 and a 200-day simple moving average of $107.10. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the firm posted $2.16 EPS. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. On average, equities analysts expect that ConocoPhillips will post 7.65 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.06%. ConocoPhillips’s payout ratio is 37.10%.

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.