NBT Bank N A NY cut its stake in shares of ConocoPhillips (NYSE:COP) by 24.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,873 shares of the energy producer’s stock after selling 5,188 shares during the period. NBT Bank N A NY’s holdings in ConocoPhillips were worth $1,229,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in COP. IMA Wealth Inc. acquired a new stake in shares of ConocoPhillips during the second quarter worth $100,000. Palo Capital Inc. acquired a new stake in shares of ConocoPhillips during the third quarter worth $131,000. Adviser Investments LLC raised its position in shares of ConocoPhillips by 139.4% during the second quarter. Adviser Investments LLC now owns 1,956 shares of the energy producer’s stock worth $136,000 after purchasing an additional 1,139 shares during the period. Lucia Wealth Services LLC raised its position in shares of ConocoPhillips by 541.3% during the second quarter. Lucia Wealth Services LLC now owns 2,251 shares of the energy producer’s stock worth $157,000 after purchasing an additional 1,900 shares during the period. Finally, NuWave Investment Management LLC raised its position in shares of ConocoPhillips by 8,000.0% during the third quarter. NuWave Investment Management LLC now owns 2,025 shares of the energy producer’s stock worth $157,000 after purchasing an additional 2,000 shares during the period. 71.77% of the stock is currently owned by institutional investors.

Shares of COP stock opened at $65.53 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46. ConocoPhillips has a fifty-two week low of $48.97 and a fifty-two week high of $80.24. The stock has a market capitalization of $76.12 billion, a price-to-earnings ratio of 109.22, a PEG ratio of 1.54 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 25th. The energy producer reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.19. ConocoPhillips had a return on equity of 14.62% and a net margin of 16.08%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.48 billion. Equities research analysts expect that ConocoPhillips will post 4.77 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, October 15th will be given a $0.305 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.29. This represents a $1.22 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Friday, October 12th. ConocoPhillips’s dividend payout ratio is presently 203.33%.

In other ConocoPhillips news, Chairman Ryan Michael Lance sold 160,064 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $72.07, for a total value of $11,535,812.48. Following the transaction, the chairman now directly owns 106,312 shares of the company’s stock, valued at approximately $7,661,905.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Glenda Mae Schwarz sold 18,882 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $71.15, for a total value of $1,343,454.30. Following the completion of the transaction, the vice president now directly owns 29,064 shares in the company, valued at $2,067,903.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,378 shares of company stock worth $20,769,145. Insiders own 0.88% of the company’s stock.

Several research firms recently weighed in on COP. Goldman Sachs Group lowered ConocoPhillips from a “buy” rating to a “neutral” rating in a research report on Monday, October 1st. Morgan Stanley lowered ConocoPhillips to a “hold” rating in a research report on Tuesday, October 2nd. Citigroup upped their price target on ConocoPhillips from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, October 5th. Zacks Investment Research raised ConocoPhillips from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Monday, October 8th. Finally, Royal Bank of Canada lowered ConocoPhillips from an “outperform” rating to a “sector perform” rating and set a $90.00 price target on the stock. in a research report on Thursday, September 20th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. ConocoPhillips has a consensus rating of “Buy” and an average target price of $75.58.

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About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; 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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