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

Canandaigua National Bank & Trust Co. lowered its stake in shares of ConocoPhillips (NYSE:COP) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips during the third quarter worth $26,000. Reston Wealth Management LLC acquired a new stake in ConocoPhillips in the third quarter worth about $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips during the 3rd quarter worth about $31,000. Global Wealth Strategies & Associates lifted its position in 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 purchasing an additional 153 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

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

ConocoPhillips Trading Down 1.4 %

COP traded down $1.38 during midday trading on Monday, hitting $99.71. 5,900,751 shares of the company were exchanged, compared to its average volume of 5,173,333. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $114.76 billion, a P/E ratio of 11.86, a P/E/G ratio of 0.83 and a beta of 1.19. The firm’s 50 day moving average price is $104.79 and its 200-day moving average price is $108.12.

ConocoPhillips (NYSE:COP) last posted its quarterly 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 return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the business earned $2.16 EPS. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, equities analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on COP shares. Barclays upped their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Truist Financial decreased their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. BMO Capital Markets increased their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Finally, Susquehanna boosted their price target on shares of 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 assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Buy” and a consensus target price of $136.71.

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.