Peoples Bank OH Sells 192 Shares of ConocoPhillips (NYSE:COP)

Peoples Bank OH cut its stake in shares of ConocoPhillips (NYSE:COP) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,352 shares of the energy producer’s stock after selling 192 shares during the period. Peoples Bank OH’s holdings in ConocoPhillips were worth $427,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its stake in ConocoPhillips by 0.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock valued at $3,211,901,000 after acquiring an additional 108,956 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of ConocoPhillips by 24.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after purchasing an additional 4,726,952 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of ConocoPhillips by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock valued at $1,907,542,000 after purchasing an additional 826,529 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of ConocoPhillips by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock valued at $1,394,162,000 after purchasing an additional 270,859 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of ConocoPhillips by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock valued at $861,930,000 after purchasing an additional 204,714 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Monday. Scotiabank raised their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Truist Financial raised their target price on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Bank of America reaffirmed a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. Finally, Royal Bank of Canada raised their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Five investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.69.

ConocoPhillips Price Performance

COP stock traded down $1.01 during mid-day trading on Tuesday, reaching $111.22. 3,460,437 shares of the company traded hands, compared to its average volume of 5,605,759. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The company has a market capitalization of $130.08 billion, a P/E ratio of 12.60, a P/E/G ratio of 2.01 and a beta of 1.23. ConocoPhillips has a 52-week low of $102.75 and a 52-week high of $135.18. The company has a fifty day moving average price of $116.08 and a 200-day moving average price of $117.49.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, analysts anticipate that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is presently 26.27%.

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.