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

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

Several other hedge funds have also recently modified their holdings of COP. Plato Investment Management Ltd raised its position in ConocoPhillips by 18.4% during the 3rd quarter. Plato Investment Management Ltd now owns 26,619 shares of the energy producer’s stock worth $2,800,000 after buying an additional 4,134 shares during the last quarter. Schrum Private Wealth Management LLC increased its stake in shares of ConocoPhillips by 9.5% during the third quarter. Schrum Private Wealth Management LLC now owns 3,948 shares of the energy producer’s stock worth $416,000 after acquiring an additional 344 shares during the period. Kovack Advisors Inc. increased its stake in shares of ConocoPhillips by 15.9% during the third quarter. Kovack Advisors Inc. now owns 27,779 shares of the energy producer’s stock worth $2,925,000 after acquiring an additional 3,809 shares during the period. Parthenon LLC raised its holdings in ConocoPhillips by 47.5% during the third quarter. Parthenon LLC now owns 2,796 shares of the energy producer’s stock worth $294,000 after purchasing an additional 900 shares in the last quarter. Finally, MQS Management LLC lifted its position in ConocoPhillips by 286.0% in the third quarter. MQS Management LLC now owns 12,102 shares of the energy producer’s stock valued at $1,274,000 after purchasing an additional 8,967 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on COP. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. BMO Capital Markets increased their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Barclays boosted their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. UBS Group cut their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Six equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Trading Up 1.0 %

Shares of ConocoPhillips stock opened at $112.92 on Friday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The business has a 50 day moving average price of $107.77 and a 200 day moving average price of $111.90. The company has a market capitalization of $129.96 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Sell-side analysts anticipate that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

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

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.