ConocoPhillips (NYSE:COP) Shares Sold by NBT Bank N A NY

NBT Bank N A NY trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 17.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,580 shares of the energy producer’s stock after selling 2,441 shares during the period. NBT Bank N A NY’s holdings in ConocoPhillips were worth $1,216,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of COP. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter worth $27,000. 10Elms LLP acquired a new position in shares of ConocoPhillips during the 4th quarter worth $28,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips during the 4th quarter worth $32,000. Finally, Marshall Investment Management LLC purchased a new position in shares of ConocoPhillips in the 4th quarter valued at about $36,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Scotiabank decreased their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company decreased their price target on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. Morgan Stanley raised their price objective on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. UBS Group reduced their price objective on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Bank of America lowered their target price on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $121.30.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the firm’s stock in a transaction on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president now owns 14,527 shares in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.24% of the stock is currently owned by insiders.

ConocoPhillips Stock Up 0.6%

COP opened at $95.54 on Wednesday. The business’s fifty day simple moving average is $89.23 and its 200 day simple moving average is $95.69. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The firm has a market cap of $120.78 billion, a P/E ratio of 12.14, a PEG ratio of 2.57 and a beta of 0.61. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same period last year, the company earned $2.05 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.27%. ConocoPhillips’s payout ratio is currently 39.64%.

About ConocoPhillips

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.