RDA Financial Network Acquires New Shares in ConocoPhillips (NYSE:COP)

RDA Financial Network acquired a new stake in ConocoPhillips (NYSE:COPGet Rating) in the first quarter, according to its most recent filing with the SEC. The fund acquired 2,462 shares of the energy producer’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Two Sigma Investments LP grew its position in shares of ConocoPhillips by 50.6% during the 3rd quarter. Two Sigma Investments LP now owns 8,732 shares of the energy producer’s stock valued at $592,000 after purchasing an additional 2,932 shares in the last quarter. Atria Investments LLC grew its position in shares of ConocoPhillips by 6.8% during the 3rd quarter. Atria Investments LLC now owns 93,590 shares of the energy producer’s stock valued at $6,343,000 after purchasing an additional 5,941 shares in the last quarter. EP Wealth Advisors LLC grew its position in shares of ConocoPhillips by 131.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 35,987 shares of the energy producer’s stock valued at $1,074,000 after purchasing an additional 20,459 shares in the last quarter. Captrust Financial Advisors grew its position in shares of ConocoPhillips by 46.9% during the 3rd quarter. Captrust Financial Advisors now owns 198,366 shares of the energy producer’s stock valued at $13,443,000 after purchasing an additional 63,356 shares in the last quarter. Finally, Easterly Investment Partners LLC grew its position in shares of ConocoPhillips by 680.7% during the 3rd quarter. Easterly Investment Partners LLC now owns 31,227 shares of the energy producer’s stock valued at $2,116,000 after purchasing an additional 27,227 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.

COP has been the subject of several research reports. Royal Bank of Canada upped their target price on shares of ConocoPhillips from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, March 7th. The Goldman Sachs Group lowered their price target on shares of ConocoPhillips from $140.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, May 14th. Scotiabank raised shares of ConocoPhillips from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $110.00 to $115.00 in a research note on Monday, April 18th. Finally, Morgan Stanley lowered their price target on shares of ConocoPhillips from $120.00 to $118.00 and set an “overweight” rating for the company in a research note on Monday, June 6th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.91.

Shares of NYSE COP opened at $93.06 on Thursday. ConocoPhillips has a 1 year low of $51.41 and a 1 year high of $124.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.51 and a quick ratio of 1.41. The company’s 50-day moving average is $105.05 and its 200 day moving average is $94.20. The stock has a market capitalization of $120.37 billion, a P/E ratio of 9.59, a P/E/G ratio of 0.35 and a beta of 1.34.

ConocoPhillips (NYSE:COPGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The energy producer reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.03. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The company had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $18.36 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. ConocoPhillips’s quarterly revenue was up 82.7% on a year-over-year basis. Research analysts anticipate that ConocoPhillips will post 15 earnings per share for the current year.

The business also recently declared a dividend, which will be paid on Friday, July 15th. Investors of record on Tuesday, June 28th will be given a dividend of $0.70 per share. The ex-dividend date is Monday, June 27th. This represents a dividend yield of 3.21%. This is a boost from ConocoPhillips’s previous dividend of $0.30. ConocoPhillips’s payout ratio is currently 18.97%.

In other ConocoPhillips news, Director Timothy A. Leach sold 40,603 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $102.33, for a total value of $4,154,904.99. Following the sale, the director now owns 666,002 shares in the company, valued at $68,151,984.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Nicholas G. Olds sold 19,200 shares of the company’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $110.51, for a total transaction of $2,121,792.00. The disclosure for this sale can be found here. Insiders have sold 644,703 shares of company stock worth $77,172,426 in the last quarter. 0.08% of the stock is owned by corporate insiders.

ConocoPhillips Profile (Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. 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 conventional and unconventional exploration prospects.

See Also

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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