RPg Family Wealth Advisory LLC Takes Position in ConocoPhillips (NYSE:COP)

RPg Family Wealth Advisory LLC bought a new position in ConocoPhillips (NYSE:COP) during the third quarter, according to its most recent filing with the SEC. The firm bought 330 shares of the energy producer’s stock, valued at approximately $35,000.

A number of other large investors also recently modified their holdings of the company. CreativeOne Wealth LLC lifted its stake in shares of ConocoPhillips by 20.6% in the third quarter. CreativeOne Wealth LLC now owns 9,906 shares of the energy producer’s stock valued at $1,043,000 after buying an additional 1,690 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in ConocoPhillips by 4.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 337,449 shares of the energy producer’s stock valued at $35,527,000 after acquiring an additional 14,030 shares in the last quarter. Bridgewater Associates LP raised its holdings in shares of ConocoPhillips by 58.9% in the third quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock valued at $324,000 after purchasing an additional 1,141 shares during the last quarter. Freedom Investment Management Inc. lifted its position in shares of ConocoPhillips by 18.8% during the third quarter. Freedom Investment Management Inc. now owns 9,418 shares of the energy producer’s stock valued at $992,000 after purchasing an additional 1,492 shares in the last quarter. Finally, Townsquare Capital LLC increased its stake in ConocoPhillips by 8.6% in the 3rd quarter. Townsquare Capital LLC now owns 70,499 shares of the energy producer’s stock valued at $7,422,000 after buying an additional 5,607 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $107.42 on Thursday. The stock’s 50-day simple moving average is $108.86 and its two-hundred day simple moving average is $110.98. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The firm has a market capitalization of $123.63 billion, a P/E ratio of 12.77, a P/E/G ratio of 0.87 and a beta of 1.21. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the business earned $2.16 earnings per share. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a $0.78 dividend. The ex-dividend date is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.90%. ConocoPhillips’s payout ratio is 37.10%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on COP shares. Barclays lifted their price target on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Scotiabank decreased their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets upped their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Mizuho raised their target price on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.63.

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.