ConocoPhillips (NYSE:COP) CEO Ryan Michael Lance Sells 506,800 Shares

ConocoPhillips (NYSE:COP) CEO Ryan Michael Lance sold 506,800 shares of ConocoPhillips stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $127.26, for a total value of $64,495,368.00. Following the transaction, the chief executive officer directly owned 6,835 shares in the company, valued at $869,822.10. The trade was a 98.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

ConocoPhillips Trading Up 0.2%

Shares of COP stock opened at $127.16 on Tuesday. The stock has a market cap of $157.13 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 3.49 and a beta of 0.27. The stock has a 50-day moving average of $109.93 and a 200-day moving average of $98.07. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $128.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The company had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $14.35 billion. During the same quarter last year, the business earned $1.98 earnings per share. ConocoPhillips’s revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th were given a $0.84 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. ConocoPhillips’s payout ratio is 53.00%.

Institutional Trading of ConocoPhillips

Several institutional investors and hedge funds have recently modified their holdings of COP. TD Waterhouse Canada Inc. grew its holdings in ConocoPhillips by 3.3% during the second quarter. TD Waterhouse Canada Inc. now owns 17,719 shares of the energy producer’s stock worth $1,630,000 after buying an additional 565 shares in the last quarter. Prudential PLC bought a new position in ConocoPhillips during the 2nd quarter valued at $1,240,000. Magnetar Financial LLC bought a new position in ConocoPhillips during the 2nd quarter valued at $254,000. Evelyn Partners Investment Management LLP boosted its holdings in ConocoPhillips by 123.4% during the 2nd quarter. Evelyn Partners Investment Management LLP now owns 6,691 shares of the energy producer’s stock worth $600,000 after acquiring an additional 3,696 shares during the last quarter. Finally, Evelyn Partners Investment Management Services Ltd boosted its holdings in ConocoPhillips by 442.0% during the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 439 shares of the energy producer’s stock worth $39,000 after acquiring an additional 358 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of ConocoPhillips from $117.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. Johnson Rice downgraded shares of ConocoPhillips from an “accumulate” rating to a “hold” rating and decreased their price target for the company from $108.00 to $105.00 in a research note on Friday, December 5th. Barclays raised their price objective on ConocoPhillips from $118.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, March 16th. Piper Sandler upped their target price on ConocoPhillips from $111.00 to $154.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Finally, UBS Group increased their target price on ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $120.38.

ConocoPhillips Company 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.