ConocoPhillips (NYSE:COP) CEO Ryan Michael Lance Sells 113,221 Shares of Stock

ConocoPhillips (NYSE:COP) CEO Ryan Michael Lance sold 113,221 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at $46,448,500. This trade represents a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ryan Michael Lance also recently made the following trade(s):

• On Friday, March 20th, Ryan Michael Lance sold 506,800 shares of ConocoPhillips stock. The shares were sold at an average price of $127.26, for a total transaction of $64,495,368.00.

ConocoPhillips Trading Up 1.6%

NYSE COP opened at $130.37 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $135.87. The company has a fifty day simple moving average of $115.29 and a two-hundred day simple moving average of $100.13. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. The stock has a market cap of $158.90 billion, a P/E ratio of 20.56, a P/E/G ratio of 2.49 and a beta of 0.19.

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

ConocoPhillips Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Howard Hughes Medical Institute purchased a new stake in ConocoPhillips in the 2nd quarter worth approximately $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $25,000. Cloud Capital Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Finally, Board of the Pension Protection Fund purchased a new stake in ConocoPhillips during the fourth quarter worth $28,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on COP shares. UBS Group lifted 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. Raymond James Financial raised their price target on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. Citigroup lifted their price objective on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a report on Monday, December 29th. Finally, Wolfe Research increased their price objective on shares of ConocoPhillips from $122.00 to $123.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.36.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Citigroup raised its price target on COP to $150 and maintained a Buy rating, giving institutional support and a sizable upside case versus recent levels. Read More.
• Positive Sentiment: Zacks upgraded ConocoPhillips from “strong sell” to “hold,” removing a negative analyst tag and improving the headline outlook from some retail/income investors. Read More.
• Neutral Sentiment: Coverage pieces and “what’s going on” explainers are amplifying short-term flows into and out of COP but add little new fundamental information—these articles increase volatility/attention more than change fundamentals. Read More.
• Negative Sentiment: CEO Ryan Lance sold 113,221 shares for about $15.03M (reported sale price ~$132.71 per share), trimming his stake ~24.4%; large insider sales can be seen as a near-term negative signal for sentiment even if for personal reasons. Read More.
• Negative Sentiment: Analyst rotation toward Diamondback (and headlines that Diamondback displaced ConocoPhillips on some “top oil picks” lists) highlights investor preference for U.S. shale growth/production discipline over larger diversified producers, which can divert flows away from COP. Read More.
• Negative Sentiment: Market-driven factors tied to an unwind of a geopolitical “war premium” in oil futures earlier this week pressured COP and other energy names as Iran de‑escalation hopes rose — a macro headwind for oil-weighted equities. Read More.

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.