RPG Investment Advisory LLC Reduces Stock Holdings in ConocoPhillips (NYSE:COP)

RPG Investment Advisory LLC cut its holdings in ConocoPhillips (NYSE:COP) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,623 shares of the energy producer’s stock after selling 1,046 shares during the period. ConocoPhillips comprises about 1.5% of RPG Investment Advisory LLC’s holdings, making the stock its 29th largest position. RPG Investment Advisory LLC’s holdings in ConocoPhillips were worth $8,664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in COP. WFA of San Diego LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $78,000. Davis R M Inc. grew its holdings in ConocoPhillips by 1.3% during the 2nd quarter. Davis R M Inc. now owns 385,071 shares of the energy producer’s stock valued at $39,897,000 after buying an additional 4,905 shares during the last quarter. Gateway Advisory LLC purchased a new position in ConocoPhillips during the second quarter worth $598,000. Financial Partners Group LLC raised its stake in ConocoPhillips by 23.8% in the 2nd quarter. Financial Partners Group LLC now owns 4,648 shares of the energy producer’s stock valued at $482,000 after purchasing an additional 893 shares during the last quarter. Finally, Triton Wealth Management PLLC purchased a new position in ConocoPhillips in the 2nd quarter valued at about $212,000. 80.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Sharmila Mulligan sold 1,849 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $125.19, for a total value of $231,476.31. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $122.14, for a total value of $69,546,516.00. Following the sale, the chief executive officer now directly owns 18,187 shares in the company, valued at $2,221,360.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sharmila Mulligan sold 1,849 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $125.19, for a total transaction of $231,476.31. The disclosure for this sale can be found here. Insiders sold a total of 646,049 shares of company stock valued at $78,636,116 in the last quarter. Insiders own 0.37% of the company’s stock.

ConocoPhillips Stock Performance

COP traded up $1.64 during trading hours on Monday, hitting $116.23. 830,324 shares of the stock were exchanged, compared to its average volume of 5,678,383. The stock has a market cap of $138.01 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 0.68 and a beta of 1.28. The stock has a 50-day simple moving average of $119.68 and a 200-day simple moving average of $112.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.66 and a quick ratio of 1.53. ConocoPhillips has a 12 month low of $91.53 and a 12 month high of $130.55.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be given a $0.58 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.51. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Monday, November 13th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Mizuho boosted their price objective on shares of ConocoPhillips from $135.00 to $139.00 and gave the company a “neutral” rating in a research report on Monday, September 18th. Royal Bank of Canada increased their price target on ConocoPhillips from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 14th. UBS Group lifted their price objective on ConocoPhillips from $147.00 to $149.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Jefferies Financial Group increased their target price on ConocoPhillips from $141.00 to $143.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. Finally, StockNews.com assumed coverage on ConocoPhillips in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $136.35.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.