RIA Advisory Group LLC Buys Shares of 18,441 ConocoPhillips (NYSE:COP)

RIA Advisory Group LLC acquired a new position in shares of ConocoPhillips (NYSE:COP - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 18,441 shares of the energy producer's stock, valued at approximately $1,941,000. ConocoPhillips accounts for 0.7% of RIA Advisory Group LLC's investment portfolio, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vicus Capital lifted its stake in ConocoPhillips by 3.7% during the second quarter. Vicus Capital now owns 2,637 shares of the energy producer's stock worth $302,000 after purchasing an additional 94 shares in the last quarter. Montag A & Associates Inc. increased its position in shares of ConocoPhillips by 2.5% during the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer's stock worth $446,000 after acquiring an additional 96 shares during the period. Excalibur Management Corp increased its position in shares of ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer's stock worth $462,000 after acquiring an additional 96 shares during the period. First Hawaiian Bank increased its position in shares of ConocoPhillips by 0.3% during the second quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer's stock worth $4,202,000 after acquiring an additional 97 shares during the period. Finally, Bank OZK increased its position in shares of ConocoPhillips by 1.6% during the second quarter. Bank OZK now owns 6,251 shares of the energy producer's stock worth $715,000 after acquiring an additional 97 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE COP traded down $0.60 during trading hours on Friday, hitting $112.32. The company had a trading volume of 4,124,037 shares, compared to its average volume of 5,882,573. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The company has a market cap of $129.27 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The business has a 50 day moving average of $108.01 and a 200-day moving average of $111.78.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data 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 net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. ConocoPhillips's revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts expect that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid 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 dividend yield of 2.78%. ConocoPhillips's dividend payout ratio is 37.10%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on COP. Wells Fargo & Company reaffirmed a "sector perform" rating on shares of ConocoPhillips in a research report on Friday, October 18th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Susquehanna upped their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a "positive" rating in a research report on Friday, November 1st. Truist Financial cut their price objective on ConocoPhillips from $145.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Finally, Mizuho increased their target price on ConocoPhillips from $129.00 to $132.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.63.

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, 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.