Huntington National Bank cut its holdings in ConocoPhillips (NYSE:COP) by 10.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,961 shares of the energy producer’s stock after selling 17,474 shares during the period. Huntington National Bank’s holdings in ConocoPhillips were worth $7,655,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in COP. Wellington Management Group LLP grew its holdings in shares of ConocoPhillips by 255.3% in the first quarter. Wellington Management Group LLP now owns 12,803,885 shares of the energy producer’s stock valued at $638,530,000 after acquiring an additional 9,200,014 shares in the last quarter. BlackRock Inc. grew its holdings in shares of ConocoPhillips by 7.8% in the second quarter. BlackRock Inc. now owns 85,821,694 shares of the energy producer’s stock valued at $3,772,723,000 after acquiring an additional 6,197,896 shares in the last quarter. FMR LLC grew its holdings in shares of ConocoPhillips by 6.9% in the first quarter. FMR LLC now owns 61,497,903 shares of the energy producer’s stock valued at $3,066,900,000 after acquiring an additional 3,982,002 shares in the last quarter. AJO LP grew its holdings in shares of ConocoPhillips by 3,000.7% in the second quarter. AJO LP now owns 2,988,018 shares of the energy producer’s stock valued at $131,353,000 after acquiring an additional 2,891,652 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of ConocoPhillips by 21.6% in the second quarter. Franklin Resources Inc. now owns 12,025,415 shares of the energy producer’s stock valued at $528,635,000 after acquiring an additional 2,134,292 shares in the last quarter. 69.87% of the stock is owned by institutional investors.
Shares of ConocoPhillips (COP) opened at $51.96 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. ConocoPhillips has a 12-month low of $42.26 and a 12-month high of $54.22. The stock has a market capitalization of $61,796.22, a price-to-earnings ratio of 2,584.50, a P/E/G ratio of 12.70 and a beta of 1.26.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 26th. The energy producer reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. ConocoPhillips had a positive return on equity of 0.12% and a negative net margin of 7.32%. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the business posted ($0.66) earnings per share. analysts expect that ConocoPhillips will post 0.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, October 16th were given a $0.265 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.04%. ConocoPhillips’s dividend payout ratio (DPR) is presently -57.30%.
In other ConocoPhillips news, Director Charles E. Bunch acquired 2,000 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were bought at an average price of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the transaction, the director now owns 3,429 shares of the company’s stock, valued at approximately $178,513.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.82% of the company’s stock.
Several equities analysts recently commented on COP shares. Royal Bank of Canada reiterated a “buy” rating and issued a $54.00 price objective on shares of ConocoPhillips in a research note on Friday, September 29th. Scotiabank reiterated a “buy” rating and issued a $53.00 price objective on shares of ConocoPhillips in a research note on Friday, September 29th. Jefferies Group set a $54.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies set a $45.00 price objective on ConocoPhillips and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, Morgan Stanley upped their price objective on ConocoPhillips from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.00.
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ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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