ConocoPhillips (NYSE:COP) Director Sells $4,154,904.99 in Stock

ConocoPhillips (NYSE:COPGet Rating) Director Timothy A. Leach sold 40,603 shares of the business’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $102.33, for a total transaction of $4,154,904.99. Following the transaction, the director now owns 666,002 shares of the company’s stock, valued at approximately $68,151,984.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Shares of ConocoPhillips stock traded up $4.00 during trading on Monday, reaching $109.02. The company’s stock had a trading volume of 8,641,345 shares, compared to its average volume of 8,603,806. The firm’s 50-day moving average is $100.38 and its two-hundred day moving average is $88.34. The company has a quick ratio of 1.41, a current ratio of 1.51 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52-week low of $51.41 and a 52-week high of $109.43. The company has a market cap of $141.01 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 0.38 and a beta of 1.36.

ConocoPhillips (NYSE:COPGet Rating) last released its earnings results on Thursday, May 5th. The energy producer reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.03. ConocoPhillips had a return on equity of 24.89% and a net margin of 22.52%. The company had revenue of $19.29 billion during the quarter, compared to analyst estimates of $18.36 billion. During the same quarter in the previous year, the company posted $0.69 EPS. ConocoPhillips’s revenue for the quarter was up 82.7% on a year-over-year basis. On average, equities research analysts anticipate that ConocoPhillips will post 14.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Tuesday, May 17th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Monday, May 16th. ConocoPhillips’s dividend payout ratio (DPR) is presently 18.97%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bell Investment Advisors Inc bought a new stake in ConocoPhillips in the 3rd quarter worth $26,000. Delos Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 1,300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock worth $27,000 after purchasing an additional 351 shares during the last quarter. Carroll Investors Inc bought a new position in ConocoPhillips during the 4th quarter valued at approximately $28,000. James Investment Research Inc. purchased a new stake in ConocoPhillips in the 1st quarter worth approximately $29,000. Finally, Fairfield Bush & CO. bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $31,000. 78.80% of the stock is currently owned by institutional investors.

COP has been the topic of several research analyst reports. Morgan Stanley raised their target price on ConocoPhillips from $96.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, April 22nd. Truist Financial increased their price objective on ConocoPhillips from $115.00 to $130.00 in a research report on Thursday, April 21st. Credit Suisse Group raised their target price on shares of ConocoPhillips from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 4th. Susquehanna Bancshares boosted their price objective on shares of ConocoPhillips from $108.00 to $129.00 in a research report on Monday, April 25th. Finally, raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, May 14th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has an average rating of “Buy” and an average target price of $105.79.

About ConocoPhillips (Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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