ConocoPhillips $COP Stock Sold by Park National Corp OH

Park National Corp OH trimmed its position in ConocoPhillips (NYSE:COP) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,061 shares of the energy producer’s stock after selling 4,231 shares during the quarter. Park National Corp OH’s holdings in ConocoPhillips were worth $15,317,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of COP. Frazier Financial Advisors LLC increased its holdings in ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after acquiring an additional 145 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in ConocoPhillips in the 4th quarter valued at $25,000. Ballast Advisors LLC purchased a new position in shares of ConocoPhillips during the 1st quarter valued at $36,000. Evergreen Advisors LLC purchased a new stake in shares of ConocoPhillips in the first quarter worth $36,000. Finally, Allied Private Wealth LLC bought a new stake in ConocoPhillips during the second quarter valued at $32,000. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COP. Weiss Ratings upgraded ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 29th. Stifel Nicolaus began coverage on shares of ConocoPhillips in a research note on Thursday, September 10th. They issued a “hold” rating and a $148.00 price target for the company. Morgan Stanley increased their target price on ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Susquehanna increased their price objective on ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research report on Tuesday, August 11th. Finally, Roth Capital upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $124.00 to $130.00 in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.24.

ConocoPhillips Trading Up 1.1%

Shares of COP traded up $1.44 during trading hours on Monday, hitting $128.19. The company had a trading volume of 2,104,363 shares, compared to its average volume of 8,155,921. The stock’s 50 day moving average price is $128.29 and its 200 day moving average price is $121.80. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $141.62. The firm has a market cap of $154.00 billion, a P/E ratio of 16.95, a P/E/G ratio of 1.34 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. The business’s revenue was up 32.4% on a year-over-year basis. On average, research analysts predict that ConocoPhillips will post 10.54 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is 44.44%.

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.