ConocoPhillips $COP Shares Sold by Peoples Bank OH

Peoples Bank OH trimmed its holdings in ConocoPhillips (NYSE:COP) by 6.3% in the second quarter, HoldingsChannel.com reports. The firm owned 2,450 shares of the energy producer’s stock after selling 164 shares during the quarter. Peoples Bank OH’s holdings in ConocoPhillips were worth $220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Naples Global Advisors LLC boosted its holdings in ConocoPhillips by 3.6% in the first quarter. Naples Global Advisors LLC now owns 16,467 shares of the energy producer’s stock valued at $1,729,000 after purchasing an additional 565 shares in the last quarter. Cypress Wealth Services LLC boosted its holdings in shares of ConocoPhillips by 32.8% in the first quarter. Cypress Wealth Services LLC now owns 2,779 shares of the energy producer’s stock valued at $292,000 after acquiring an additional 686 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of ConocoPhillips by 71.8% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,279 shares of the energy producer’s stock valued at $660,000 after acquiring an additional 2,625 shares during the period. Thrive Wealth Management LLC boosted its holdings in shares of ConocoPhillips by 16.0% in the first quarter. Thrive Wealth Management LLC now owns 3,559 shares of the energy producer’s stock valued at $374,000 after acquiring an additional 490 shares during the period. Finally, Vest Financial LLC boosted its holdings in shares of ConocoPhillips by 45.8% in the first quarter. Vest Financial LLC now owns 16,418 shares of the energy producer’s stock valued at $1,724,000 after acquiring an additional 5,158 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on COP shares. Susquehanna decreased their price objective on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a report on Wednesday, July 23rd. Citigroup decreased their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Morgan Stanley reissued an “overweight” rating and issued a $123.00 price objective (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Piper Sandler increased their price objective on ConocoPhillips from $123.00 to $124.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Finally, Scotiabank increased their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.14.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $94.17 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a fifty day moving average price of $94.92 and a 200 day moving average price of $92.91. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a market cap of $117.61 billion, a PE ratio of 12.64, a P/E/G ratio of 2.46 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.98 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips’s dividend payout ratio is presently 41.88%.

ConocoPhillips Company 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.