Park National Corp OH Cuts Stock Holdings in ConocoPhillips (NYSE:COP)

Park National Corp OH lowered its stake in shares of ConocoPhillips (NYSE:COP) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,077 shares of the energy producer’s stock after selling 3,467 shares during the quarter. Park National Corp OH’s holdings in ConocoPhillips were worth $14,883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Excalibur Management Corp boosted its holdings in ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after buying an additional 96 shares in the last quarter. Cypress Capital Group lifted its position in shares of ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after acquiring an additional 96 shares during the period. Aprio Wealth Management LLC boosted its stake in shares of ConocoPhillips by 4.8% during the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock worth $224,000 after acquiring an additional 97 shares in the last quarter. Greenwich Wealth Management LLC grew its holdings in shares of ConocoPhillips by 4.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 2,581 shares of the energy producer’s stock worth $295,000 after acquiring an additional 99 shares during the period. Finally, MRP Capital Investments LLC increased its stake in ConocoPhillips by 4.3% in the 2nd quarter. MRP Capital Investments LLC now owns 2,430 shares of the energy producer’s stock valued at $278,000 after purchasing an additional 100 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of several research reports. Truist Financial lowered their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price for the company. Barclays increased their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Piper Sandler cut their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $136.71.

ConocoPhillips Stock Up 1.6 %

Shares of NYSE:COP opened at $101.56 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm has a market cap of $116.89 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 0.83 and a beta of 1.19. The stock’s 50-day moving average price is $104.70 and its two-hundred day moving average price is $107.97. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the company earned $2.16 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. On average, research analysts forecast that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.07%. ConocoPhillips’s payout ratio is currently 37.10%.

About ConocoPhillips

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.