RIA Advisory Group LLC Takes Position in ConocoPhillips (NYSE:COP)

RIA Advisory Group LLC purchased a new stake in ConocoPhillips (NYSE:COP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,982 shares of the energy producer’s stock, valued at approximately $462,000.

A number of other large investors have also made changes to their positions in COP. Norris Perne & French LLP MI lifted its holdings in ConocoPhillips by 1.9% in the third quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock valued at $523,000 after acquiring an additional 80 shares during the last quarter. Sloy Dahl & Holst LLC lifted its holdings in ConocoPhillips by 3.3% in the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock valued at $315,000 after acquiring an additional 85 shares during the last quarter. Mascoma Wealth Management LLC lifted its holdings in ConocoPhillips by 35.9% in the third quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock valued at $40,000 after acquiring an additional 88 shares during the last quarter. CRA Financial Services LLC lifted its holdings in ConocoPhillips by 1.9% in the third quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock valued at $563,000 after acquiring an additional 89 shares during the last quarter. Finally, KLCM Advisors Inc. lifted its holdings in ConocoPhillips by 2.8% in the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after acquiring an additional 89 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP traded up $1.57 during midday trading on Friday, reaching $129.38. 3,983,878 shares of the stock were exchanged, compared to its average volume of 5,434,192. The business’s 50-day moving average price is $120.20 and its 200 day moving average price is $117.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18. The company has a market capitalization of $152.20 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 2.75 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the previous year, the firm earned $2.71 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post 9.35 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.41%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 25.61%.

Insider Transactions at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 700,775 shares of company stock worth $87,615,169. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of research reports. UBS Group upped their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Scotiabank upped their price target on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Piper Sandler upped their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday. Morgan Stanley increased their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Truist Financial reduced their price objective on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $142.00.

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.