ConocoPhillips (NYSE:COP) Position Raised by Huntington National Bank

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Huntington National Bank increased its position in shares of ConocoPhillips (NYSE:COP) by 27.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 415,157 shares of the energy producer’s stock after acquiring an additional 88,387 shares during the quarter. Huntington National Bank’s holdings in ConocoPhillips were worth $32,133,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. IMA Wealth Inc. bought a new position in ConocoPhillips in the second quarter valued at approximately $100,000. Acropolis Investment Management LLC bought a new position in ConocoPhillips in the second quarter valued at approximately $107,000. Adviser Investments LLC lifted its stake in ConocoPhillips by 139.4% in the second quarter. Adviser Investments LLC now owns 1,956 shares of the energy producer’s stock valued at $136,000 after buying an additional 1,139 shares in the last quarter. Lucia Wealth Services LLC lifted its stake in ConocoPhillips by 541.3% in the second quarter. Lucia Wealth Services LLC now owns 2,251 shares of the energy producer’s stock valued at $157,000 after buying an additional 1,900 shares in the last quarter. Finally, Clarus Wealth Advisors bought a new position in ConocoPhillips in the second quarter valued at approximately $170,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have weighed in on COP shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $80.00 price target on shares of ConocoPhillips in a research note on Wednesday, August 15th. Bank of America lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a research report on Thursday, September 6th. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Monday, October 8th. BMO Capital Markets boosted their price objective on shares of ConocoPhillips from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, July 27th. Finally, Citigroup boosted their price objective on shares of ConocoPhillips from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, October 5th. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $75.53.

In other ConocoPhillips news, insider Don E. Jr. Wallette sold 59,432 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $71.87, for a total value of $4,271,377.84. Following the transaction, the insider now directly owns 83,047 shares in the company, valued at $5,968,587.89. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Glenda Mae Schwarz sold 18,882 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $71.15, for a total transaction of $1,343,454.30. Following the completion of the sale, the vice president now directly owns 29,064 shares of the company’s stock, valued at approximately $2,067,903.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,378 shares of company stock worth $20,769,145. Corporate insiders own 0.88% of the company’s stock.

Shares of NYSE:COP traded down $0.18 on Friday, hitting $66.73. The company had a trading volume of 9,144,620 shares, compared to its average volume of 6,924,958. ConocoPhillips has a 1-year low of $48.97 and a 1-year high of $80.24. The company has a market cap of $80.62 billion, a P/E ratio of 111.22, a P/E/G ratio of 1.62 and a beta of 1.22. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.99 and a quick ratio of 1.82.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 25th. The energy producer reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.19. ConocoPhillips had a net margin of 16.08% and a return on equity of 14.62%. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.48 billion. As a group, equities research analysts expect that ConocoPhillips will post 4.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, October 15th will be issued a $0.305 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.29. This represents a $1.22 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Friday, October 12th. ConocoPhillips’s payout ratio is currently 203.33%.

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ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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