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

Peoples Bank OH cut its holdings in ConocoPhillips (NYSE:COP) by 5.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Valued Wealth Advisors LLC raised its holdings in shares of ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 82 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its holdings in shares of ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares during the last quarter. Adirondack Trust Co. raised its holdings in shares of ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after purchasing an additional 90 shares during the last quarter. Mayfair Advisory Group LLC raised its holdings in shares of ConocoPhillips by 3.5% in the first quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock valued at $334,000 after purchasing an additional 90 shares during the last quarter. Finally, Smith Anglin Financial LLC raised its holdings in shares of ConocoPhillips by 3.8% in the first quarter. Smith Anglin Financial LLC now owns 2,505 shares of the energy producer’s stock valued at $319,000 after purchasing an additional 91 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

COP traded down $1.01 on Tuesday, hitting $111.22. 3,460,437 shares of the stock were exchanged, compared to its average volume of 5,605,759. ConocoPhillips has a 12 month low of $102.75 and a 12 month high of $135.18. The business has a 50-day moving average of $116.08 and a two-hundred day moving average of $117.49. 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 firm has a market capitalization of $130.08 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 2.01 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. Sell-side analysts forecast that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on COP. Barclays boosted their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Monday. Morgan Stanley boosted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Truist Financial boosted their target price on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $145.69.

ConocoPhillips 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.