ConocoPhillips $COP Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its holdings in ConocoPhillips (NYSE:COP) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 90,724 shares of the energy producer’s stock after selling 500 shares during the period. Hennessy Advisors Inc.’s holdings in ConocoPhillips were worth $8,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. grew its stake in ConocoPhillips by 6.0% in the 2nd quarter. QRG Capital Management Inc. now owns 222,586 shares of the energy producer’s stock valued at $19,975,000 after acquiring an additional 12,609 shares during the last quarter. Fairvoy Private Wealth LLC grew its stake in ConocoPhillips by 3.5% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock valued at $314,000 after acquiring an additional 117 shares during the last quarter. Stock Yards Bank & Trust Co. grew its stake in ConocoPhillips by 11.0% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 38,489 shares of the energy producer’s stock valued at $3,454,000 after acquiring an additional 3,813 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in ConocoPhillips by 6.0% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 19,719 shares of the energy producer’s stock valued at $1,770,000 after acquiring an additional 1,124 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. lifted its holdings in ConocoPhillips by 2.4% in the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 50,564 shares of the energy producer’s stock valued at $4,538,000 after purchasing an additional 1,202 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on COP shares. Melius started coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. Wells Fargo & Company restated an “overweight” rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Scotiabank upped their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Finally, Roth Capital restated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $120.14.

ConocoPhillips Trading Up 0.8%

Shares of COP stock opened at $94.17 on Friday. The firm has a market cap of $117.61 billion, a P/E ratio of 12.64, a PEG ratio of 2.46 and a beta of 0.62. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm’s 50-day simple moving average is $94.92 and its 200-day simple moving average is $92.91.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.98 EPS. As a group, equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

ConocoPhillips 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.