RFG Advisory LLC Decreases Stake in ConocoPhillips $COP

Key Points

• RFG Advisory LLC has reduced its stake in ConocoPhillips by 57.6% in the second quarter, now owning 5,261 shares valued at $472,000.
• Several other investors have increased their positions, with Financial Network Wealth Advisors raising theirs by 341.5%, highlighting strong institutional interest in the stock.
• ConocoPhillips reported a net income of $1.42 EPS for the last quarter, surpassing analyst expectations, with revenues up 4.3% year-over-year.

RFG Advisory LLC reduced its position in ConocoPhillips (NYSE:COP - Free Report) by 57.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,261 shares of the energy producer's stock after selling 7,139 shares during the period. RFG Advisory LLC's holdings in ConocoPhillips were worth $472,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Financial Network Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips during the first quarter worth about $31,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips during the first quarter worth about $35,000. IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips during the first quarter worth about $37,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in shares of ConocoPhillips by 418.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock worth $38,000 after purchasing an additional 293 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on COP. Morgan Stanley reduced their price target on shares of ConocoPhillips from $123.00 to $122.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 14th. Scotiabank increased their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Capital One Financial increased their price objective on shares of ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. BMO Capital Markets increased their price objective on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an "outperform" rating in a research note on Monday, October 13th. Finally, Jefferies Financial Group dropped their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, October 13th. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $115.00.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $86.53 on Friday. The firm's 50 day moving average is $94.04 and its two-hundred day moving average is $91.93. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $115.38. The firm has a market capitalization of $108.07 billion, a P/E ratio of 11.61, a PEG ratio of 2.32 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the business earned $1.98 earnings per share. ConocoPhillips's revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.6%. ConocoPhillips's dividend payout ratio (DPR) is presently 41.88%.

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.

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