ConocoPhillips $COP Shares Sold by Park National Corp OH

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

Other large investors also recently added to or reduced their stakes in the company. Capital International Investors increased its position in shares of ConocoPhillips by 18.2% during the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after purchasing an additional 7,037,873 shares in the last quarter. AQR Capital Management LLC raised its stake in ConocoPhillips by 229.2% in the 4th quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock valued at $336,544,000 after purchasing an additional 2,503,156 shares during the last quarter. Primecap Management Co. CA lifted its holdings in ConocoPhillips by 31.3% in the 3rd quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock valued at $979,102,000 after purchasing an additional 2,467,555 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in ConocoPhillips by 20.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock worth $1,228,886,000 after purchasing an additional 2,216,010 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 0.2%

Shares of COP opened at $107.92 on Friday. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The company has a market capitalization of $131.48 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.19 and a beta of 0.11. The stock has a fifty day simple moving average of $118.65 and a two-hundred day simple moving average of $111.25. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 EPS. As a group, equities analysts forecast that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid 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 yield of 3.1%. ConocoPhillips’s payout ratio is 57.05%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on COP shares. Sanford C. Bernstein upped their target price on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Freedom Capital downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Capital One Financial lowered their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. Raymond James Financial dropped their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Seventeen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $134.48.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 7,700 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total value of $1,001,231.00. Following the transaction, the senior vice president directly owned 25,284 shares in the company, valued at $3,287,678.52. The trade was a 23.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nicholas G. Olds sold 6,994 shares of the 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 of the company’s stock, valued at approximately $685,488.70. This trade represents a 56.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 127,915 shares of company stock valued at $16,915,448 over the last ninety days. Company insiders own 0.09% of the company’s stock.

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.