NBT Bank N.A. Buys New Shares in ConocoPhillips $COP

NBT Bank N.A. acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 10,138 shares of the energy producer’s stock, valued at approximately $1,269,000.

A number of other institutional investors have also modified their holdings of COP. Warwick Investment Management Inc. increased its holdings in ConocoPhillips by 2.1% in the 3rd quarter. Warwick Investment Management Inc. now owns 4,066 shares of the energy producer’s stock valued at $509,000 after purchasing an additional 82 shares in the last quarter. Patten Group Inc. grew its stake in shares of ConocoPhillips by 1.5% in the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after buying an additional 83 shares in the last quarter. IFC Advisors LLC grew its stake in shares of ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after buying an additional 84 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of ConocoPhillips by 9.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after buying an additional 88 shares during the period. Finally, Abel Hall LLC raised its holdings in shares of ConocoPhillips by 1.8% during the 3rd quarter. Abel Hall LLC now owns 5,080 shares of the energy producer’s stock valued at $636,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Zacks Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Susquehanna raised their target price on ConocoPhillips from $161.00 to $175.00 and gave the company a “positive” rating in a research note on Tuesday. Raymond James Financial reaffirmed an “underperform” rating and set a $168.00 target price on shares of ConocoPhillips in a research report on Monday, August 24th. Finally, Seaport Research Partners initiated coverage on ConocoPhillips in a research note on Thursday, September 3rd. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $145.00.

Insiders Place Their Bets

In related news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.09% of the stock is owned by insiders.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $150.91 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $152.77. The business has a 50 day simple moving average of $134.24 and a 200-day simple moving average of $123.00. The company has a market capitalization of $181.30 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.45 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The business had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. During the same period in the prior year, the firm earned $1.42 EPS. The business’s quarterly revenue was up 32.4% on a year-over-year basis. As a group, equities research analysts expect that ConocoPhillips will post 11.19 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.2%. ConocoPhillips’s payout ratio is presently 44.44%.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.