RIA Advisory Group LLC Makes New $1.94 Million Investment in ConocoPhillips (NYSE:COP)

RIA Advisory Group LLC bought a new stake in ConocoPhillips (NYSE:COP) in the third quarter, Holdings Channel reports. The institutional investor bought 18,441 shares of the energy producer’s stock, valued at approximately $1,941,000. ConocoPhillips makes up about 0.7% of RIA Advisory Group LLC’s portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Values First Advisors Inc. purchased a new position in ConocoPhillips in the 3rd quarter valued at $26,000. Stephens Consulting LLC lifted its stake in shares of ConocoPhillips by 69.3% in the 2nd 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 period. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at about $31,000. Y.D. More Investments Ltd acquired a new position in shares of ConocoPhillips during the second quarter worth about $35,000. Finally, Fairway Wealth LLC raised its holdings in ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Barclays raised their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. BMO Capital Markets raised their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, UBS Group decreased their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips Stock Down 0.5 %

Shares of NYSE COP opened at $112.32 on Friday. The firm’s 50-day moving average is $108.01 and its two-hundred day moving average is $111.78. The company has a market capitalization of $129.27 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 EPS. Equities analysts anticipate that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.78%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

ConocoPhillips Company 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.