Huntington National Bank Sells 7,119 Shares of ConocoPhillips $COP

Huntington National Bank lessened its position in shares of ConocoPhillips (NYSE:COP) by 7.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 92,977 shares of the energy producer’s stock after selling 7,119 shares during the period. Huntington National Bank’s holdings in ConocoPhillips were worth $8,704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of COP. Cloud Capital Management LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $28,000. Board of the Pension Protection Fund bought a new stake in ConocoPhillips during the 4th quarter worth approximately $28,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $28,000. Finally, BNP Paribas bought a new stake in ConocoPhillips during the 2nd quarter worth approximately $33,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $114.89 on Friday. The company’s fifty day moving average price is $123.29 and its 200-day moving average price is $108.42. The firm has a market capitalization of $139.97 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.29 and a beta of 0.14. ConocoPhillips has a one year low of $84.33 and a one year high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that ConocoPhillips will post 9.92 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips’s dividend payout ratio is 57.05%.

Insider Buying and Selling

In other news, EVP Nicholas G. Olds sold 6,994 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the sale, the executive vice president owned 5,395 shares of the company’s stock, valued at approximately $685,488.70. This represents a 56.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction dated Tuesday, March 31st. The shares were 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 represents a 24.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 734,891 shares of company stock worth $93,345,692 in the last ninety days. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Barclays increased their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday. Wells Fargo & Company increased their price target on shares of ConocoPhillips from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Morgan Stanley increased their price target on shares of ConocoPhillips from $149.00 to $153.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. Finally, UBS Group increased their price target on shares of ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $134.60.

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.