Hennion & Walsh Asset Management Inc. Reduces Stake in ConocoPhillips $COP

Hennion & Walsh Asset Management Inc. reduced its stake in shares of ConocoPhillips (NYSE:COP) by 42.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,478 shares of the energy producer’s stock after selling 8,635 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in ConocoPhillips were worth $1,086,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of COP. Howard Hughes Medical Institute purchased a new stake in ConocoPhillips in the second quarter worth $25,000. Bogart Wealth LLC grew its stake in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after acquiring an additional 182 shares during the period. Activest Wealth Management increased its holdings in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares during the last quarter. BNP Paribas purchased a new stake in ConocoPhillips in the 2nd quarter worth about $33,000. Finally, Traub Capital Management LLC bought a new stake in ConocoPhillips in the 2nd quarter valued at about $38,000. Institutional investors own 82.36% of the company’s stock.

Insider Activity

In related news, Director William H. Mcraven bought 5,768 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the sale, the chief executive officer owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. The trade was a 60.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $97.44 on Friday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $106.20. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $120.40 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 2.66 and a beta of 0.32. The firm’s 50 day simple moving average is $91.60 and its 200 day simple moving average is $92.63.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $1.78 EPS. As a group, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were paid a $0.84 dividend. The ex-dividend date was Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.4%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio is currently 47.52%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group cut their target price on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, October 17th. UBS Group upped their price target on shares of ConocoPhillips from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, December 12th. BMO Capital Markets reduced their price objective on shares of ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Morgan Stanley lowered their target price on shares of ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating on the stock in a report on Thursday, November 20th. Finally, Wells Fargo & Company assumed coverage on ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 target price on the stock. Nineteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $112.96.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ CEO Ryan Lance will attend the White House meeting on Venezuela, putting COP in direct discussions about potential access to Venezuelan oil assets and future investment opportunities. Reuters: ConocoPhillips says CEO will attend White House meeting
• Positive Sentiment: President Trump stated oil companies would spend roughly $100 billion to rebuild Venezuela’s energy sector and indicated the U.S. would decide which firms can operate there — a large potential investment pool for participating majors like COP. Trump: Oil companies will spend $100 billion in Venezuela
• Neutral Sentiment: U.S. energy officials say ConocoPhillips and peers are evaluating what role they could play in Venezuela; this is an exploratory phase with no guarantees of contracts or timing. Financial Post: ConocoPhillips and Exxon look at Venezuela role
• Neutral Sentiment: U.S. Treasury commentary suggests the largest oil companies will likely move more cautiously into Venezuela than independents, implying COP may be slower to deploy capital despite big potential opportunities. Reuters: Bessent says largest oil companies likely move slower
• Negative Sentiment: Analysts are trimming targets on COP: Bernstein cut its price target to $98 (from $116), signaling lowered near-term expectations despite keeping an Outperform rating. InsiderMonkey: Bernstein trims price target on ConocoPhillips
• Negative Sentiment: Wolfe Research also lowered its price target, reflecting analyst caution that may pressure the stock until clarity on cash flows or clear commitments emerge. AmericanBankingNews: Wolfe Research Cuts ConocoPhillips Price Target
• Negative Sentiment: Reports that U.S. oil companies want “serious guarantees” from Washington before making large Venezuelan investments highlight legal/regulatory risk that could delay or limit COP’s participation. Reuters: US oil companies say they need guarantees to invest in Venezuela

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.