Hendley & Co. Inc. Cuts Stake in ConocoPhillips $COP

Hendley & Co. Inc. lowered its position in shares of ConocoPhillips (NYSE:COP) by 16.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 63,226 shares of the energy producer’s stock after selling 12,092 shares during the period. ConocoPhillips accounts for 2.1% of Hendley & Co. Inc.’s holdings, making the stock its 18th biggest holding. Hendley & Co. Inc.’s holdings in ConocoPhillips were worth $5,919,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new position in ConocoPhillips during the 3rd quarter worth $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of ConocoPhillips during the 3rd quarter worth $28,000. Board of the Pension Protection Fund acquired a new position in shares of ConocoPhillips during the 4th quarter worth $28,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter worth $28,000. Finally, BNP Paribas acquired a new position in shares of ConocoPhillips during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COP. Argus upped their price target on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday. Barclays upped their price target on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Sanford C. Bernstein upped their price target on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Capital One Financial upped their price target on shares of ConocoPhillips from $116.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 26th. Finally, Mizuho upped their price target on shares of ConocoPhillips from $121.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $133.16.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the sale, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at $46,448,500. This trade represents a 24.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Heather G. Hrap sold 2,654 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $317,630.72. Following the sale, the senior vice president directly owned 5,663 shares in the company, valued at $677,747.84. This represents a 31.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 734,891 shares of company stock worth $93,345,692 over the last three months. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $122.36 on Friday. The stock has a market cap of $149.07 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.41 and a beta of 0.14. ConocoPhillips has a 52 week low of $84.28 and a 52 week high of $135.87. The company’s 50-day moving average price is $123.07 and its 200 day moving average price is $106.25. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 EPS. As a group, research analysts forecast that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Argus raised its price target on ConocoPhillips to $136 from $128 and kept a Buy rating, signaling more upside potential for the shares. MarketScreener
• Positive Sentiment: Scotiabank lifted FY2026 and FY2027 earnings estimates for ConocoPhillips, reflecting improved expectations for the company’s profitability. MarketBeat report
• Positive Sentiment: Norway approved redevelopment plans for the Greater Ekofisk area, and ConocoPhillips also signed an offshore exploration memorandum of understanding in Syria, which could support future reserve and production growth. Yahoo Finance
• Positive Sentiment: Energy stocks broadly moved higher as oil prices stayed firm, which tends to improve sentiment for upstream producers like ConocoPhillips. Yahoo Finance sector update
• Neutral Sentiment: ConocoPhillips’ Q1 earnings-related coverage focused on comparing revenue, EPS, and key metrics with Wall Street estimates, with no major surprise highlighted in the summary provided. Zacks
• Neutral Sentiment: Shareholders approved board governance and auditors at the annual meeting, removing a routine governance overhang but not changing the core investment outlook. TipRanks

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.