RPG Investment Advisory LLC Has $18 Million Stock Position in ConocoPhillips $COP
RPG Investment Advisory LLC increased its stake in ConocoPhillips (NYSE:COP) by 98.9% in Q1, owning 171,418 shares valued at $18 million. Other investors also adjusted their holdings, with institutional investors owning 82.36% of the stock. Analysts have set various price targets for COP, with a consensus rating of "Moderate Buy" and a target price of $120.95. The stock opened at $94.57, with a market cap of $118.11 billion and a P/E ratio of 12.69.
RPG Investment Advisory LLC increased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 98.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 171,418 shares of the energy producer's stock after purchasing an additional 85,234 shares during the period. RPG Investment Advisory LLC's holdings in ConocoPhillips were worth $18,002,000 at the end of the most recent quarter.
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Several other large investors have also added to or reduced their stakes in the business. Second Line Capital LLC lifted its holdings in shares of ConocoPhillips by 2.2% in the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after purchasing an additional 108 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its holdings in shares of ConocoPhillips by 1.6% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock valued at $703,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of ConocoPhillips by 3.6% in the fourth quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock valued at $316,000 after purchasing an additional 110 shares in the last quarter. KLCM Advisors Inc. lifted its holdings in shares of ConocoPhillips by 2.6% in the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock valued at $473,000 after purchasing an additional 115 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators lifted its holdings in shares of ConocoPhillips by 3.9% in the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock valued at $334,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.
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Analysts Set New Price Targets
COP has been the topic of a number of recent research reports. Bank of America dropped their target price on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Citigroup decreased their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Scotiabank increased their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Susquehanna decreased their price target on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.95.
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Read Our Latest Research Report on COP
Insiders Place Their Bets
In related news, EVP Kirk L. Johnson bought 5,300 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.
ConocoPhillips Stock Performance
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NYSE:COP opened at $94.5690 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The firm has a market cap of $118.11 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 2.48 and a beta of 0.67. The business's fifty day moving average is $93.81 and its 200 day moving average is $93.31.
ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the prior year, the company earned $1.98 EPS. The company's quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.
ConocoPhillips Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, August 18th. ConocoPhillips's dividend payout ratio is presently 41.88%.
ConocoPhillips Company Profile
(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.
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