ConocoPhillips $COP Shares Sold by Hendley & Co. Inc.

Key Points

• Hendley & Co. Inc. cut its ConocoPhillips stake by 16.1% in the fourth quarter, selling 12,092 shares and leaving it with 63,226 shares worth about $5.9 million.
• ConocoPhillips reported better-than-expected Q1 earnings, posting $1.89 EPS versus the $1.72 consensus and revenue of $15.76 billion, though sales were still down 6.1% year over year.
• The company also declared a quarterly dividend of $0.84 per share, implying a 2.7% yield, while analysts remain broadly constructive with an average Moderate Buy rating and a $133.16 price target.

Hendley & Co. Inc. decreased its stake in ConocoPhillips (NYSE:COP - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 investment portfolio, making the stock its 18th largest holding. Hendley & Co. Inc.'s holdings in ConocoPhillips were worth $5,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Cloud Capital Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Board of the Pension Protection Fund acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $28,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Finally, BNP Paribas acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on COP. Truist Financial set a $128.00 target price on shares of ConocoPhillips in a report on Friday, May 1st. JPMorgan Chase & Co. upped their target price on shares of ConocoPhillips from $98.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, February 6th. Argus upped their target price on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a "buy" rating in a report on Friday. UBS Group upped their target price on shares of ConocoPhillips from $130.00 to $144.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Finally, Wells Fargo & Company upped their target price on shares of ConocoPhillips from $132.00 to $133.00 and gave the company an "overweight" rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $133.16.

ConocoPhillips Stock Up 2.8%

COP stock opened at $122.36 on Friday. The company has a fifty day moving average price of $123.07 and a 200 day moving average price of $106.25. ConocoPhillips has a 12 month low of $84.28 and a 12 month high of $135.87. The company has a market cap of $149.07 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.14. 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 (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. ConocoPhillips's revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts expect that ConocoPhillips will post 9.66 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be given a $0.84 dividend. The ex-dividend date is Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.7%. ConocoPhillips's dividend payout ratio is 57.05%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 40,000 shares of the company's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the completion of the transaction, the director owned 411,211 shares in the company, valued at approximately $48,847,754.69. This represents a 8.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 506,800 shares of the company's stock in a transaction on Friday, March 20th. The stock was sold at an average price of $127.26, for a total transaction of $64,495,368.00. Following the transaction, the chief executive officer owned 6,835 shares of the company's stock, valued at approximately $869,822.10. The trade was a 98.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 734,891 shares of company stock worth $93,345,692 in the last 90 days. Corporate insiders own 0.09% of the company's stock.

Trending Headlines about 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.

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