Hendley & Co. Inc. Reduces Holdings in ConocoPhillips (NYSE:COP)

Hendley & Co. Inc. trimmed its position in shares of ConocoPhillips (NYSE:COP) by 3.1% in the 1st quarter, Holdings Channel reports. The firm owned 77,538 shares of the energy producer’s stock after selling 2,485 shares during the period. ConocoPhillips accounts for approximately 2.8% of Hendley & Co. Inc.’s portfolio, making the stock its 11th largest position. Hendley & Co. Inc.’s holdings in ConocoPhillips were worth $8,143,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in COP. SBI Securities Co. Ltd. purchased a new stake in ConocoPhillips in the 4th quarter valued at $145,000. Proficio Capital Partners LLC grew its holdings in ConocoPhillips by 21.3% in the 4th quarter. Proficio Capital Partners LLC now owns 14,733 shares of the energy producer’s stock valued at $1,461,000 after buying an additional 2,591 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in ConocoPhillips in the 4th quarter valued at $514,000. Candriam S.C.A. grew its holdings in ConocoPhillips by 28.2% in the 4th quarter. Candriam S.C.A. now owns 103,491 shares of the energy producer’s stock valued at $10,263,000 after buying an additional 22,773 shares in the last quarter. Finally, E Fund Management Co. Ltd. grew its holdings in ConocoPhillips by 40.7% in the 4th quarter. E Fund Management Co. Ltd. now owns 3,137 shares of the energy producer’s stock valued at $311,000 after buying an additional 908 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

COP opened at $94.28 on Friday. The stock’s 50-day moving average price is $90.23 and its 200 day moving average price is $94.80. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The firm has a market cap of $119.19 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 2.53 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same quarter in the prior year, the company earned $2.05 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

Analysts Set New Price Targets

Several analysts have issued reports on COP shares. Royal Bank Of Canada dropped their target price on ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 30th. Citigroup dropped their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Barclays decreased their price target on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Susquehanna decreased their price target on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research note on Monday, May 12th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $121.80.

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson bought 5,300 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.24% of the company’s stock.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.