ConocoPhillips $COP Shares Sold by Park National Corp OH

Park National Corp OH reduced its stake in ConocoPhillips (NYSE:COP) by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 124,435 shares of the energy producer’s stock after selling 8,902 shares during the period. Park National Corp OH’s holdings in ConocoPhillips were worth $16,425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in ConocoPhillips during the fourth quarter worth about $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of ConocoPhillips during the third quarter valued at about $28,000. Board of the Pension Protection Fund purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $28,000. Strive Asset Management LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $28,000. Finally, BNP Paribas acquired a new position in shares of ConocoPhillips in the 2nd quarter worth approximately $33,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on COP. Truist Financial set a $128.00 price objective on shares of ConocoPhillips in a research report on Friday, May 1st. Wolfe Research boosted their target price on ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Zacks Research cut ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Freedom Capital lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Piper Sandler lifted their price objective on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Seventeen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.48.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at $46,448,500. This trade represents a 24.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the sale, the executive vice president directly owned 5,395 shares in the company, valued at approximately $685,488.70. This trade represents a 56.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 127,915 shares of company stock valued at $16,915,448. 0.09% of the stock is currently owned by company insiders.

ConocoPhillips Trading Up 0.2%

NYSE COP opened at $107.92 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market cap of $131.48 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.19 and a beta of 0.11. The firm has a 50 day simple moving average of $118.65 and a 200-day simple moving average of $111.25. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. Equities research analysts anticipate that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.1%. ConocoPhillips’s dividend payout ratio is currently 57.05%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.