Huntington National Bank Decreases Holdings in ConocoPhillips $COP

Huntington National Bank cut its holdings in shares of ConocoPhillips (NYSE:COP) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,977 shares of the energy producer’s stock after selling 7,119 shares during the quarter. Huntington National Bank’s holdings in ConocoPhillips were worth $8,704,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in COP. Community Bank & Trust Waco Texas boosted its stake in ConocoPhillips by 4.6% in the fourth quarter. Community Bank & Trust Waco Texas now owns 19,207 shares of the energy producer’s stock valued at $1,798,000 after acquiring an additional 847 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in ConocoPhillips by 2.4% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 83,603 shares of the energy producer’s stock valued at $7,826,000 after acquiring an additional 1,985 shares during the last quarter. Expressive Wealth LLC purchased a new position in ConocoPhillips in the fourth quarter valued at about $418,000. Flputnam Investment Management Co. boosted its stake in ConocoPhillips by 3.4% in the fourth quarter. Flputnam Investment Management Co. now owns 14,546 shares of the energy producer’s stock valued at $1,362,000 after acquiring an additional 481 shares during the last quarter. Finally, Integrity Alliance LLC. boosted its stake in ConocoPhillips by 62.7% in the fourth quarter. Integrity Alliance LLC. now owns 5,021 shares of the energy producer’s stock valued at $470,000 after acquiring an additional 1,935 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock opened at $114.89 on Friday. The stock has a market capitalization of $139.97 billion, a P/E ratio of 19.51, a PEG ratio of 1.29 and a beta of 0.14. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $123.29 and its 200 day moving average is $108.42. ConocoPhillips has a 12 month low of $84.33 and a 12 month high of $135.87.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The company 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%. ConocoPhillips’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 EPS. On average, sell-side analysts anticipate that ConocoPhillips will post 9.92 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on COP shares. BMO Capital Markets dropped their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Piper Sandler boosted their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Mizuho boosted their target price on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday. Roth Mkm cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 target price on the stock. in a research note on Tuesday, February 17th. Finally, The Goldman Sachs Group boosted their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.60.

Insider Activity at ConocoPhillips

In related news, SVP Kelly Brunetti Rose sold 7,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the sale, the senior vice president directly owned 25,284 shares in the company, valued at approximately $3,287,678.52. This represents a 23.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Andrew D. Lundquist sold 34,500 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the sale, the senior vice president owned 17,469 shares in the company, valued at $2,090,689.92. The trade was a 66.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 734,891 shares of company stock worth $93,345,692 in the last ninety days. Insiders own 0.09% of the company’s stock.

About ConocoPhillips

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.