ConocoPhillips (NYSE:COP) Shares Bought by Huntington National Bank

Huntington National Bank boosted its stake in shares of ConocoPhillips (NYSE:COP) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,082 shares of the energy producer’s stock after buying an additional 329 shares during the quarter. Huntington National Bank’s holdings in ConocoPhillips were worth $11,063,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in ConocoPhillips by 4.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 50,075 shares of the energy producer’s stock worth $6,374,000 after purchasing an additional 2,041 shares during the period. Tocqueville Asset Management L.P. grew its holdings in shares of ConocoPhillips by 1.0% in the first quarter. Tocqueville Asset Management L.P. now owns 55,534 shares of the energy producer’s stock valued at $7,068,000 after purchasing an additional 566 shares in the last quarter. ARK & TLK Investments LLC increased its stake in ConocoPhillips by 7.6% during the 1st quarter. ARK & TLK Investments LLC now owns 2,831 shares of the energy producer’s stock worth $360,000 after buying an additional 199 shares during the period. M&G Plc acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $6,308,000. Finally, Prevail Innovative Wealth Advisors LLC acquired a new position in shares of ConocoPhillips in the first quarter worth $2,395,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 1.0 %

ConocoPhillips stock opened at $112.92 on Friday. The company has a market capitalization of $129.96 billion, a P/E ratio of 13.43, a PEG ratio of 0.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a 50-day simple moving average of $107.77 and a 200-day simple moving average of $111.90.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 earnings per share. Equities research analysts expect that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.76%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Analyst Upgrades and Downgrades

COP has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Scotiabank lowered their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Mizuho raised their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets boosted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Barclays raised their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.63.

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.