Canandaigua National Bank & Trust Co. Invests $2.45 Million in ConocoPhillips $COP

Canandaigua National Bank & Trust Co. acquired a new stake in ConocoPhillips (NYSE:COP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 23,575 shares of the energy producer’s stock, valued at approximately $2,451,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COP. Pacific Excel Wealth Advisors Inc. purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at about $212,000. Stableford Capital II LLC increased its stake in shares of ConocoPhillips by 33.2% during the second quarter. Stableford Capital II LLC now owns 9,027 shares of the energy producer’s stock worth $938,000 after buying an additional 2,250 shares during the period. RDA Financial Network raised its holdings in ConocoPhillips by 13.2% in the second quarter. RDA Financial Network now owns 3,164 shares of the energy producer’s stock valued at $329,000 after acquiring an additional 369 shares in the last quarter. Hilltop National Bank lifted its stake in ConocoPhillips by 2.7% in the second quarter. Hilltop National Bank now owns 13,520 shares of the energy producer’s stock worth $1,406,000 after acquiring an additional 356 shares during the last quarter. Finally, Adelphi Trust Co grew its holdings in ConocoPhillips by 8.1% during the 2nd quarter. Adelphi Trust Co now owns 6,110 shares of the energy producer’s stock worth $635,000 after acquiring an additional 458 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Wall Street remains moderately optimistic about ConocoPhillips, which has outperformed the broader market over the past year. The view supports the stock’s valuation, although analysts’ optimism is not uniformly bullish. ConocoPhillips Stock Outlook: Is Wall Street Bullish or Bearish?
• Positive Sentiment: ConocoPhillips’ Pelto Island reef-restoration project, which adds 650 reef modules to improve fish habitat, highlights the company’s coastal stewardship and may support its environmental reputation and stakeholder relationships. The direct near-term effect on earnings is likely limited. ConocoPhillips Following Pelto Island Reef Project Is the Stock a Bargain?
• Neutral Sentiment: ConocoPhillips is approaching its second-quarter earnings release. Higher oil prices could support revenue and cash flow, but the company’s unhedged production leaves results exposed to commodity-price volatility, while operational disruptions remain a risk. ConocoPhillips Gears Up to Report Q2 Earnings
• Neutral Sentiment: Pre-earnings coverage is focusing on production, margins and other operating metrics beyond revenue and earnings per share. These details could determine the market’s reaction more than headline estimates. Countdown to ConocoPhillips Q2 Earnings
• Negative Sentiment: Reports that oil prices eased on possible U.S.-Iran peace talks are weighing on oil-sensitive producers such as ConocoPhillips. A reduced geopolitical risk premium could pressure crude prices and lower expected upstream cash flow. Why Is ConocoPhillips in Focus as Oil Eases on Iran-US Peace Talks?

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $118.00 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The firm’s 50 day moving average is $112.98 and its two-hundred day moving average is $115.35. The firm has a market capitalization of $143.76 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.44 and a beta of 0.11.

Analyst Ratings Changes

A number of equities research analysts have commented on COP shares. Truist Financial dropped their price objective on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating on the stock in a research report on Wednesday, July 8th. Scotiabank lifted their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Raymond James Financial lowered their target price on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Piper Sandler increased their target price on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Finally, Zacks Research cut ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.16.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.