Hendley & Co. Inc. Sells 5,457 Shares of ConocoPhillips $COP

Hendley & Co. Inc. cut its position in shares of ConocoPhillips (NYSE:COP) by 8.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,769 shares of the energy producer’s stock after selling 5,457 shares during the quarter. ConocoPhillips comprises about 2.8% of Hendley & Co. Inc.’s holdings, making the stock its 13th largest position. Hendley & Co. Inc.’s holdings in ConocoPhillips were worth $7,626,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in ConocoPhillips during the fourth quarter valued at $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in ConocoPhillips during the 3rd quarter worth about $28,000. Board of the Pension Protection Fund bought a new position in shares of ConocoPhillips in the 4th quarter worth about $28,000. Strive Asset Management LLC bought a new position in shares of ConocoPhillips in the 3rd quarter worth about $28,000. Finally, BNP Paribas acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at about $33,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $109.60 on Tuesday. The stock has a market capitalization of $133.52 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.19 and a beta of 0.11. The company’s 50-day moving average is $118.37 and its 200-day moving average is $111.54. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the company posted $2.09 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. Equities research analysts expect that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on COP shares. Mizuho upped their target price on ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Freedom Capital downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Roth Mkm raised ConocoPhillips from a “neutral” rating to a “buy” rating and boosted their price target for the company from $124.00 to $130.00 in a research note on Monday. Argus boosted their price target on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Susquehanna increased their price target on ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.32.

Insider Activity

In related news, CEO Ryan Michael Lance sold 113,221 shares of ConocoPhillips stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at approximately $46,448,500. This trade represents a 24.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate 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.