Canandaigua National Bank & Trust Co. Buys 1,639 Shares of ConocoPhillips (NYSE:COP)

Canandaigua National Bank & Trust Co. boosted its stake in shares of ConocoPhillips (NYSE:COP) by 5.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,857 shares of the energy producer’s stock after buying an additional 1,639 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in ConocoPhillips were worth $3,197,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wealthspan Partners LLC boosted its stake in ConocoPhillips by 1.6% in the 4th quarter. Wealthspan Partners LLC now owns 6,245 shares of the energy producer’s stock worth $737,000 after purchasing an additional 98 shares in the last quarter. Horan Securities Inc. lifted its stake in shares of ConocoPhillips by 40.2% during the first quarter. Horan Securities Inc. now owns 349 shares of the energy producer’s stock worth $35,000 after buying an additional 100 shares during the period. Barden Capital Management Inc. grew its holdings in shares of ConocoPhillips by 1.0% during the first quarter. Barden Capital Management Inc. now owns 10,562 shares of the energy producer’s stock valued at $1,048,000 after buying an additional 100 shares during the last quarter. Holderness Investments Co. increased its position in shares of ConocoPhillips by 1.5% in the 1st quarter. Holderness Investments Co. now owns 6,882 shares of the energy producer’s stock valued at $683,000 after acquiring an additional 101 shares during the period. Finally, LCM Capital Management Inc raised its stake in ConocoPhillips by 5.3% in the 1st quarter. LCM Capital Management Inc now owns 2,036 shares of the energy producer’s stock worth $202,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 80.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of research reports. Morgan Stanley reiterated an “overweight” rating and issued a $124.00 price objective on shares of ConocoPhillips in a research note on Wednesday, July 19th. Erste Group Bank upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. StockNews.com initiated coverage on ConocoPhillips in a report on Thursday, August 17th. They issued a “hold” rating for the company. UBS Group increased their price target on shares of ConocoPhillips from $127.00 to $147.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Finally, Jefferies Financial Group cut their price objective on shares of ConocoPhillips from $143.00 to $141.00 and set a “buy” rating for the company in a report on Monday, August 28th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.42.

ConocoPhillips Stock Up 1.3 %

Shares of NYSE COP opened at $123.95 on Thursday. The stock has a market cap of $148.43 billion, a PE ratio of 11.78, a P/E/G ratio of 0.75 and a beta of 1.30. The company has a current ratio of 1.41, a quick ratio of 1.28 and a debt-to-equity ratio of 0.33. ConocoPhillips has a 12-month low of $91.53 and a 12-month high of $138.49. The company has a 50-day moving average of $114.96 and a 200 day moving average of $106.86.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.10). ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. The company had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $14.64 billion. During the same quarter last year, the company earned $3.91 earnings per share. As a group, sell-side analysts predict that ConocoPhillips will post 8.87 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 16th were issued a $0.51 dividend. The ex-dividend date was Wednesday, September 27th. This represents a $2.04 annualized dividend and a yield of 1.65%. ConocoPhillips’s dividend payout ratio (DPR) is currently 19.65%.

Insider Activity

In related news, CEO Ryan Michael Lance sold 569,400 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the transaction, the chief executive officer now owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.37% of the company’s stock.

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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.