Canandaigua National Bank & Trust Co. Sells 558 Shares of ConocoPhillips (NYSE:COP)

Canandaigua National Bank & Trust Co. lessened its stake in ConocoPhillips (NYSE:COP) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,842 shares of the energy producer’s stock after selling 558 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in ConocoPhillips were worth $2,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of COP. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips in the third quarter worth approximately $26,000. Reston Wealth Management LLC bought a new position in ConocoPhillips in the third quarter worth approximately $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips in the 3rd quarter worth $31,000. Global Wealth Strategies & Associates grew its stake in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares during the period. Finally, Y.D. More Investments Ltd bought a new stake in ConocoPhillips during the 2nd quarter worth approximately $35,000. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COP has been the topic of several recent analyst reports. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their target price for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Truist Financial dropped their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Barclays lifted their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Susquehanna boosted their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $136.71.

Insider Buying and Selling

In other ConocoPhillips news, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

ConocoPhillips Trading Down 1.4 %

COP traded down $1.38 during mid-day trading on Monday, hitting $99.71. 5,900,751 shares of the stock were exchanged, compared to its average volume of 5,173,333. The company has a market cap of $114.76 billion, a PE ratio of 11.86, a PEG ratio of 0.83 and a beta of 1.19. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm’s fifty day moving average is $104.79 and its two-hundred day moving average is $108.12. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 EPS. Equities analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.13%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

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.