Park National Corp OH Sells 3,517 Shares of ConocoPhillips (NYSE:COP)

Park National Corp OH cut its position in ConocoPhillips (NYSE:COP) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,927 shares of the energy producer’s stock after selling 3,517 shares during the quarter. Park National Corp OH’s holdings in ConocoPhillips were worth $21,374,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of COP. Orion Capital Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $27,000. West Branch Capital LLC grew its stake in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares during the period. Sachetta LLC acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $27,000. Cooksen Wealth LLC acquired a new stake in ConocoPhillips during the fourth quarter worth approximately $27,000. Finally, Cape Investment Advisory Inc. grew its stake in ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Mizuho cut their target price on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. Barclays increased their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Piper Sandler increased their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Susquehanna raised their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Finally, Bank of America restated a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a report on Friday. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Trading Down 0.3 %

Shares of NYSE COP traded down $0.32 during mid-day trading on Tuesday, hitting $109.22. The stock had a trading volume of 2,937,324 shares, compared to its average volume of 5,480,833. The firm has a market cap of $127.74 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23. The business has a 50 day moving average price of $121.52 and a two-hundred day moving average price of $117.60. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. On average, equities analysts anticipate that ConocoPhillips will post 8.93 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.86%. ConocoPhillips’s payout ratio is 26.27%.

Insiders Place Their Bets

In other news, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Insiders sold 664,350 shares of company stock worth $83,537,680 in the last three months. 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.