REAP Financial Group LLC Has $177,000 Stock Position in ConocoPhillips $COP

REAP Financial Group LLC increased its position in shares of ConocoPhillips (NYSE:COP) by 99.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,972 shares of the energy producer’s stock after acquiring an additional 981 shares during the quarter. REAP Financial Group LLC’s holdings in ConocoPhillips were worth $177,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Tritonpoint Wealth LLC raised its position in shares of ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after buying an additional 110 shares in the last quarter. Iowa State Bank increased its stake in ConocoPhillips by 0.5% in the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after acquiring an additional 110 shares during the last quarter. First National Bank Sioux Falls increased its stake in ConocoPhillips by 4.6% in the second quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock valued at $231,000 after acquiring an additional 113 shares during the last quarter. KLCM Advisors Inc. increased its stake in ConocoPhillips by 2.6% in the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after acquiring an additional 115 shares during the last quarter. Finally, Fairvoy Private Wealth LLC increased its stake in ConocoPhillips by 3.5% in the second quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock valued at $314,000 after acquiring an additional 117 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Scotiabank raised their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Wells Fargo & Company restated an “overweight” rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Piper Sandler boosted their target price on ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Finally, Evercore ISI decreased their price target on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Monday. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.23.

ConocoPhillips Stock Performance

NYSE:COP opened at $95.18 on Wednesday. The stock has a market cap of $118.87 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 2.51 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. The stock’s 50-day moving average is $94.83 and its 200-day moving average is $92.75. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping 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 business had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same period last year, the company earned $1.98 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

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.