Peoples Bank OH Lowers Position in ConocoPhillips (NYSE:COP)

Peoples Bank OH decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,039 shares of the energy producer’s stock after selling 210 shares during the quarter. Peoples Bank OH’s holdings in ConocoPhillips were worth $320,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. First Trust Direct Indexing L.P. raised its position in shares of ConocoPhillips by 5.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after buying an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in ConocoPhillips during the second quarter valued at about $30,021,000. EP Wealth Advisors LLC raised its position in ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after purchasing an additional 4,578 shares in the last quarter. Norden Group LLC lifted its stake in ConocoPhillips by 2,634.9% during the first quarter. Norden Group LLC now owns 124,440 shares of the energy producer’s stock worth $15,838,000 after purchasing an additional 119,890 shares during the last quarter. Finally, Alpha DNA Investment Management LLC boosted its holdings in shares of ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after purchasing an additional 7,490 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COP. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Scotiabank lowered their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Sanford C. Bernstein reduced their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Mizuho lowered their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.94.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $104.36 on Friday. The business has a 50 day moving average of $108.74 and a 200 day moving average of $114.21. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a market cap of $121.19 billion, a PE ratio of 11.63, a P/E/G ratio of 0.84 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.84 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 7.95 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.22%. ConocoPhillips’s payout ratio is 25.86%.

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.