Hendley & Co. Inc. decreased its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 8.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,769 shares of the energy producer’s stock after selling 5,457 shares during the quarter. ConocoPhillips accounts for approximately 2.8% of Hendley & Co. Inc.’s investment portfolio, making the stock its 13th largest position. Hendley & Co. Inc.’s holdings in ConocoPhillips were worth $7,626,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $25,000. Strive Asset Management LLC acquired a new position in ConocoPhillips during the 3rd quarter worth approximately $28,000. Board of the Pension Protection Fund acquired a new position in ConocoPhillips during the 4th quarter worth approximately $28,000. KERR FINANCIAL PLANNING Corp bought a new position in ConocoPhillips in the 3rd quarter valued at approximately $28,000. Finally, Sfam LLC bought a new position in ConocoPhillips in the 4th quarter valued at approximately $34,000. Institutional investors own 82.36% of the company’s stock.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. BMO Capital Markets decreased their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Jefferies Financial Group raised their price objective on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a report on Monday, May 18th. Raymond James Financial lowered their target price on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Monday, June 1st. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Barclays boosted their price target on ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $134.32.
ConocoPhillips Stock Performance
Shares of ConocoPhillips stock opened at $109.60 on Tuesday. The stock has a market cap of $133.52 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.19 and a beta of 0.11. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The company’s fifty day moving average is $118.37 and its 200 day moving average is $111.54. 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 (NYSE:COP – Get Free Report) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the company earned $2.09 EPS. Sell-side analysts forecast that ConocoPhillips will post 10.03 EPS for the current year.
ConocoPhillips Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.1%. ConocoPhillips’s dividend payout ratio is presently 57.05%.
Insider Activity
In other news, CEO Ryan Michael Lance sold 113,221 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the transaction, the chief executive officer directly owned 350,000 shares in the company, valued at $46,448,500. This trade represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.
About ConocoPhillips
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.
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