ConocoPhillips $COP Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. trimmed its position in ConocoPhillips (NYSE:COP) by 12.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,046 shares of the energy producer’s stock after selling 15,420 shares during the quarter. Wesbanco Bank Inc.’s holdings in ConocoPhillips were worth $10,055,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after acquiring an additional 31,736,423 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of ConocoPhillips by 1.4% in the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after acquiring an additional 437,709 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after acquiring an additional 2,080,625 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of ConocoPhillips by 15.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after acquiring an additional 1,073,906 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of ConocoPhillips in the 1st quarter worth approximately $658,981,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the company’s stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $92.60 on Friday. The firm has a market cap of $115.65 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.48 and a beta of 0.69. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $94.75 and its two-hundred day moving average is $92.95.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the prior year, the business earned $1.98 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. ConocoPhillips’s dividend payout ratio is currently 41.88%.

Analyst Ratings Changes

COP has been the topic of several recent analyst reports. Susquehanna decreased their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Melius Research initiated coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective on the stock. Bank of America decreased their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Royal Bank Of Canada decreased their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, July 11th. Finally, Melius initiated coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 target price on the stock. Sixteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $120.86.

About ConocoPhillips

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.