Hennessy Advisors Inc. Has $9.58 Million Stake in ConocoPhillips (NYSE:COP)

Hennessy Advisors Inc. raised its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 151.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,224 shares of the energy producer's stock after buying an additional 54,900 shares during the quarter. Hennessy Advisors Inc.'s holdings in ConocoPhillips were worth $9,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of ConocoPhillips during the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter worth about $27,000. 10Elms LLP acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at about $28,000. Crowley Wealth Management Inc. purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at about $32,000. Finally, Marshall Investment Management LLC acquired a new position in ConocoPhillips during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president now directly owns 14,527 shares of the company's stock, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on COP shares. Mizuho cut their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price objective on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Barclays dropped their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Citigroup reduced their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Finally, Morgan Stanley upped their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.30.

ConocoPhillips Stock Performance

COP stock traded up $0.54 on Tuesday, reaching $95.54. 9,448,211 shares of the company were exchanged, compared to its average volume of 7,505,067. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $120.78 billion, a PE ratio of 12.26, a PEG ratio of 0.79 and a beta of 0.61. The stock's fifty day moving average price is $89.16 and its 200 day moving average price is $95.70. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter last year, the company earned $2.05 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.27%. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

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.