NBT Bank N.A. Acquires New Shares in ConocoPhillips $COP

NBT Bank N.A. acquired a new position in shares of ConocoPhillips (NYSE:COP) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,138 shares of the energy producer’s stock, valued at approximately $1,269,000.

Other institutional investors also recently bought and sold shares of the company. Warwick Investment Management Inc. increased its position in shares of ConocoPhillips by 2.1% in the third quarter. Warwick Investment Management Inc. now owns 4,066 shares of the energy producer’s stock valued at $509,000 after buying an additional 82 shares in the last quarter. Patten Group Inc. raised its stake in shares of ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock worth $719,000 after buying an additional 83 shares during the last quarter. IFC Advisors LLC boosted its position in shares of ConocoPhillips by 0.4% in the 1st quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock worth $2,664,000 after buying an additional 84 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of ConocoPhillips by 9.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock worth $124,000 after buying an additional 88 shares in the last quarter. Finally, Abel Hall LLC grew its stake in ConocoPhillips by 1.8% in the 3rd quarter. Abel Hall LLC now owns 5,080 shares of the energy producer’s stock valued at $636,000 after acquiring an additional 92 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on COP. Barclays dropped their target price on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Jefferies Financial Group lifted their target price on shares of ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Mizuho reduced their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Susquehanna raised their price objective on shares of ConocoPhillips from $161.00 to $175.00 and gave the stock a “positive” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $145.00.

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $150.91 on Friday. The company has a 50-day simple moving average of $134.24 and a 200-day simple moving average of $123.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The company has a market cap of $181.30 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.45 and a beta of 0.24. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $152.77.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.42 earnings per share. On average, equities analysts anticipate that ConocoPhillips will post 11.19 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s payout ratio is presently 44.44%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.