ConocoPhillips (NYSE:COP) Shares Sold by Park National Corp OH

Park National Corp OH cut its stake in shares of ConocoPhillips (NYSE:COP) by 2.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 150,077 shares of the energy producer’s stock after selling 3,467 shares during the period. Park National Corp OH’s holdings in ConocoPhillips were worth $14,883,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COP. Tidal Investments LLC boosted its stake in shares of ConocoPhillips by 42.7% in the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after purchasing an additional 31,011 shares during the period. Alpha DNA Investment Management LLC lifted its holdings in ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after buying an additional 7,490 shares in the last quarter. Prospera Financial Services Inc boosted its position in ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after buying an additional 13,595 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after acquiring an additional 46,621 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on COP. Evercore ISI restated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Piper Sandler decreased their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Susquehanna raised their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, Truist Financial cut their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $136.71.

ConocoPhillips Trading Up 1.6 %

Shares of NYSE COP opened at $101.56 on Wednesday. The company has a market cap of $116.89 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19. The stock’s 50 day simple moving average is $104.70 and its 200 day simple moving average is $107.97. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results 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 previous year, the company posted $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. Equities research analysts expect that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.07%. ConocoPhillips’s dividend payout ratio is 37.10%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by company insiders.

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.