Park National Corp OH cut its position in ConocoPhillips (NYSE:COP – Free Report) by 2.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 186,338 shares of the energy producer’s stock after selling 5,216 shares during the period. Park National Corp OH’s holdings in ConocoPhillips were worth $19,306,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in COP. Wealthspan Partners LLC raised its holdings in shares of ConocoPhillips by 1.6% in the 4th quarter. Wealthspan Partners LLC now owns 6,245 shares of the energy producer’s stock valued at $737,000 after purchasing an additional 98 shares during the period. Horan Securities Inc. increased its position in ConocoPhillips by 40.2% during the first quarter. Horan Securities Inc. now owns 349 shares of the energy producer’s stock worth $35,000 after buying an additional 100 shares during the last quarter. Barden Capital Management Inc. raised its stake in ConocoPhillips by 1.0% in the first quarter. Barden Capital Management Inc. now owns 10,562 shares of the energy producer’s stock valued at $1,048,000 after buying an additional 100 shares during the period. Holderness Investments Co. lifted its position in shares of ConocoPhillips by 1.5% in the first quarter. Holderness Investments Co. now owns 6,882 shares of the energy producer’s stock valued at $683,000 after buying an additional 101 shares during the last quarter. Finally, LCM Capital Management Inc boosted its stake in shares of ConocoPhillips by 5.3% during the 1st quarter. LCM Capital Management Inc now owns 2,036 shares of the energy producer’s stock worth $202,000 after acquiring an additional 103 shares during the period. 80.36% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on COP shares. Raymond James dropped their price target on ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating on the stock in a research note on Monday, July 24th. StockNews.com initiated coverage on shares of ConocoPhillips in a report on Thursday, August 17th. They set a “hold” rating for the company. Wells Fargo & Company upped their price target on shares of ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price objective on shares of ConocoPhillips in a research report on Monday, August 14th. Finally, Truist Financial upped their target price on ConocoPhillips from $148.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $134.42.
ConocoPhillips Stock Performance
COP opened at $124.15 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.28 and a current ratio of 1.41. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $138.49. The firm has a market cap of $148.67 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 0.75 and a beta of 1.30. The business’s fifty day moving average is $114.96 and its 200-day moving average is $106.86.
ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The energy producer reported $1.84 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.10). ConocoPhillips had a return on equity of 27.27% and a net margin of 18.66%. The firm had revenue of $12.88 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the company earned $3.91 EPS. Sell-side analysts expect that ConocoPhillips will post 8.87 EPS for the current fiscal year.
ConocoPhillips Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 16th were paid a $0.51 dividend. The ex-dividend date was Wednesday, September 27th. This represents a $2.04 dividend on an annualized basis and a yield of 1.64%. ConocoPhillips’s dividend payout ratio (DPR) is 19.65%.
Insider Activity at ConocoPhillips
In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by insiders.
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.
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