Canandaigua National Corp Reduces Stake in ConocoPhillips (NYSE:COP)

Canandaigua National Corp trimmed its position in shares of ConocoPhillips (NYSE:COPGet Rating) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,833 shares of the energy producer’s stock after selling 1,498 shares during the quarter. Canandaigua National Corp’s holdings in ConocoPhillips were worth $2,410,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Wedmont Private Capital raised its position in ConocoPhillips by 36.2% during the second quarter. Wedmont Private Capital now owns 7,061 shares of the energy producer’s stock worth $634,000 after acquiring an additional 1,877 shares during the last quarter. Peterson Wealth Services raised its position in shares of ConocoPhillips by 267.7% during the 2nd quarter. Peterson Wealth Services now owns 20,276 shares of the energy producer’s stock worth $1,821,000 after purchasing an additional 14,761 shares during the last quarter. Brookstone Capital Management lifted its stake in ConocoPhillips by 7.3% in the 2nd quarter. Brookstone Capital Management now owns 11,074 shares of the energy producer’s stock valued at $957,000 after buying an additional 753 shares in the last quarter. Symmetry Partners LLC grew its holdings in ConocoPhillips by 2.7% during the 2nd quarter. Symmetry Partners LLC now owns 28,570 shares of the energy producer’s stock valued at $2,566,000 after buying an additional 759 shares during the last quarter. Finally, Thrive Wealth Management LLC increased its position in ConocoPhillips by 5.3% during the second quarter. Thrive Wealth Management LLC now owns 3,052 shares of the energy producer’s stock worth $274,000 after buying an additional 153 shares in the last quarter. Institutional investors and hedge funds own 79.66% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $113.13 on Monday. The stock’s 50 day moving average is $100.18 and its two-hundred day moving average is $100.95. ConocoPhillips has a 52-week low of $56.30 and a 52-week high of $124.08. The company has a market capitalization of $146.33 billion, a PE ratio of 9.34, a P/E/G ratio of 0.37 and a beta of 1.31. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 0.32.

ConocoPhillips (NYSE:COPGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The energy producer reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same quarter in the prior year, the business posted $1.27 earnings per share. Analysts predict that ConocoPhillips will post 14.68 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a None dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 29th will be paid a $1.40 dividend. The ex-dividend date is Thursday, September 29th. ConocoPhillips’s dividend payout ratio (DPR) is 15.19%.

Insider Activity at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 10,950 shares of ConocoPhillips stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total value of $1,275,894.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

COP has been the topic of a number of analyst reports. The Goldman Sachs Group decreased their price objective on ConocoPhillips from $140.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, June 22nd. Truist Financial lowered their price target on shares of ConocoPhillips from $126.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $135.00 to $134.00 in a research note on Tuesday, July 19th. MKM Partners boosted their price target on ConocoPhillips from $110.00 to $118.00 and gave the company a “buy” rating in a report on Friday, August 26th. Finally, Barclays increased their price target on ConocoPhillips from $142.00 to $153.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 31st. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $121.47.

ConocoPhillips Company Profile

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. 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 conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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