RPG Investment Advisory LLC Has $9.12 Million Stock Position in ConocoPhillips (NYSE:COP)

RPG Investment Advisory LLC increased its stake in shares of ConocoPhillips (NYSE:COP) by 0.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 86,639 shares of the energy producer’s stock after buying an additional 770 shares during the period. RPG Investment Advisory LLC’s holdings in ConocoPhillips were worth $9,121,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vicus Capital lifted its position in ConocoPhillips by 3.7% during the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after buying an additional 94 shares in the last quarter. Montag A & Associates Inc. lifted its position in ConocoPhillips by 2.5% during the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock valued at $446,000 after purchasing an additional 96 shares during the period. Excalibur Management Corp lifted its position in ConocoPhillips by 2.4% during the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after purchasing an additional 96 shares during the period. First Hawaiian Bank lifted its position in ConocoPhillips by 0.3% during the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock valued at $4,202,000 after purchasing an additional 97 shares during the period. Finally, Bank OZK lifted its position in ConocoPhillips by 1.6% during the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock valued at $715,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on COP shares. UBS Group cut their price target 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. Barclays increased their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Mizuho increased their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Wolfe Research assumed coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Six research 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Price Performance

NYSE:COP opened at $110.64 on Wednesday. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $107.69 and a 200 day simple moving average of $112.04. The stock has a market capitalization of $127.34 billion, a PE ratio of 13.16, a P/E/G ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) 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 business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter last year, the firm posted $2.16 EPS. The company’s quarterly revenue was down 8.5% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.82%. ConocoPhillips’s dividend payout ratio (DPR) is currently 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.