Nicholas G. Olds Sells 10,950 Shares of ConocoPhillips (NYSE:COP) Stock

ConocoPhillips (NYSE:COPGet Rating) EVP Nicholas G. Olds sold 10,950 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total transaction of $1,275,894.00. The sale was disclosed in a document filed with the SEC, which is available through this link.

ConocoPhillips Stock Down 2.1 %

COP stock opened at $113.13 on Friday. ConocoPhillips has a 52 week low of $56.30 and a 52 week high of $124.08. The company has a market capitalization of $146.33 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 0.39 and a beta of 1.31. The firm’s 50-day moving average is $99.64 and its two-hundred day moving average is $100.79. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32.

ConocoPhillips (NYSE:COPGet Rating) last released its quarterly earnings results on Thursday, August 4th. The energy producer reported $3.91 EPS for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same quarter in the prior year, the company earned $1.27 EPS. On average, analysts forecast that ConocoPhillips will post 14.68 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a None dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 29th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, September 29th. ConocoPhillips’s dividend payout ratio (DPR) is 15.19%.

Institutional Trading of ConocoPhillips

A number of hedge funds and other institutional investors have recently made changes to their positions in COP. Capital World Investors raised its holdings in shares of ConocoPhillips by 62.4% in the 1st quarter. Capital World Investors now owns 23,463,085 shares of the energy producer’s stock worth $2,346,309,000 after purchasing an additional 9,014,700 shares in the last quarter. FMR LLC raised its holdings in shares of ConocoPhillips by 64.8% in the 2nd quarter. FMR LLC now owns 21,177,310 shares of the energy producer’s stock worth $1,901,935,000 after purchasing an additional 8,323,587 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $702,569,000. BlackRock Inc. raised its holdings in shares of ConocoPhillips by 3.4% in the 4th quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock worth $8,017,310,000 after purchasing an additional 3,652,817 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of ConocoPhillips by 28.2% in the 1st quarter. Capital Research Global Investors now owns 12,335,053 shares of the energy producer’s stock worth $1,233,506,000 after purchasing an additional 2,715,820 shares in the last quarter. 79.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of ConocoPhillips from $123.00 to $134.00 and gave the stock an “overweight” rating in a report on Monday, September 12th. Morgan Stanley lifted their price target on shares of ConocoPhillips from $117.00 to $118.00 and gave the company an “overweight” rating in a report on Monday, August 29th. Societe Generale lifted their price target on shares of ConocoPhillips to $127.00 in a report on Thursday, June 9th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, MKM Partners lifted their price target on shares of ConocoPhillips from $110.00 to $118.00 and gave the company a “buy” rating in a report on Friday, August 26th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $121.47.

ConocoPhillips Company Profile

(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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