Park National Corp OH Has $18.57 Million Stock Position in ConocoPhillips (NYSE:COP)

Park National Corp OH trimmed its position in ConocoPhillips (NYSE:COP) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,359 shares of the energy producer’s stock after selling 5,568 shares during the quarter. Park National Corp OH’s holdings in ConocoPhillips were worth $18,571,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of COP. International Assets Investment Management LLC increased its position in ConocoPhillips by 20.7% during the fourth quarter. International Assets Investment Management LLC now owns 9,600 shares of the energy producer’s stock worth $1,114,000 after acquiring an additional 1,644 shares during the period. GHP Investment Advisors Inc. increased its position in ConocoPhillips by 60.1% during the fourth quarter. GHP Investment Advisors Inc. now owns 919 shares of the energy producer’s stock worth $107,000 after acquiring an additional 345 shares during the period. Cerity Partners LLC increased its position in ConocoPhillips by 13.3% during the fourth quarter. Cerity Partners LLC now owns 173,087 shares of the energy producer’s stock worth $20,090,000 after acquiring an additional 20,256 shares during the period. Sapient Capital LLC bought a new stake in ConocoPhillips in the 4th quarter valued at $902,000. Finally, Valeo Financial Advisors LLC increased its holdings in ConocoPhillips by 14.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 25,457 shares of the energy producer’s stock valued at $2,955,000 after buying an additional 3,259 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 1.4 %

Shares of NYSE COP traded up $1.48 during trading hours on Monday, hitting $110.09. The company had a trading volume of 5,906,619 shares, compared to its average volume of 5,713,649. The stock has a market capitalization of $127.84 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 2.10 and a beta of 1.24. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1-year low of $102.27 and a 1-year high of $135.18. The firm’s 50 day moving average is $111.81 and its 200-day moving average is $117.12.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the prior year, the firm posted $1.84 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts expect that ConocoPhillips will post 8.67 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Wall Street Analyst Weigh In

COP has been the topic of several analyst reports. Barclays upped their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Raymond James reiterated a “strong-buy” rating and set a $159.00 price target (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Bank of America reiterated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Piper Sandler upped their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, UBS Group reduced their price target on shares of ConocoPhillips from $159.00 to $151.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Five investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.53.

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.