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

Park National Corp OH reduced its position in ConocoPhillips (NYSE:COP) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,374 shares of the energy producer’s stock after selling 703 shares during the quarter. Park National Corp OH’s holdings in ConocoPhillips were worth $15,687,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Tallon Kerry Patrick acquired a new stake in ConocoPhillips in the fourth quarter worth about $511,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in ConocoPhillips by 27.2% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,967 shares of the energy producer’s stock worth $1,286,000 after purchasing an additional 2,770 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in ConocoPhillips during the 4th quarter worth approximately $161,000. Foundations Investment Advisors LLC increased its stake in ConocoPhillips by 9.2% during the 4th quarter. Foundations Investment Advisors LLC now owns 13,401 shares of the energy producer’s stock valued at $1,329,000 after purchasing an additional 1,133 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its stake in shares of ConocoPhillips by 14.3% during the fourth quarter. Perigon Wealth Management LLC now owns 8,192 shares of the energy producer’s stock worth $865,000 after buying an additional 1,028 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price target on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Susquehanna dropped their target price on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research report on Monday, May 12th. Mizuho cut their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Raymond James restated an “outperform” rating and set a $109.00 price objective (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Finally, The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.89.

ConocoPhillips Stock Down 1.1%

ConocoPhillips stock opened at $84.57 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $106.91 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The business has a 50 day simple moving average of $91.14 and a 200-day simple moving average of $97.80. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same quarter last year, the company earned $2.05 EPS. On average, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.69%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

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.