ConocoPhillips (NYSE:COP) EVP Nicholas Olds Sells 6,994 Shares of Stock

ConocoPhillips (NYSE:COP) EVP Nicholas Olds sold 6,994 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the sale, the executive vice president directly owned 5,395 shares in the company, valued at approximately $685,488.70. The trade was a 56.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

ConocoPhillips Trading Up 0.2%

NYSE COP opened at $127.16 on Tuesday. The company has a market cap of $157.13 billion, a P/E ratio of 20.06, a P/E/G ratio of 3.49 and a beta of 0.27. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $128.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14. The company has a 50-day moving average of $109.93 and a 200-day moving average of $98.07.

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). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The company had revenue of $13.86 billion during the quarter, compared to analyst estimates of $14.35 billion. During the same period in the prior year, the business posted $1.98 earnings per share. ConocoPhillips’s revenue was down 3.7% on a year-over-year basis. As a group, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Wednesday, February 18th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips’s dividend payout ratio (DPR) is currently 53.00%.

Analyst Ratings Changes

Several analysts have recently issued reports on COP shares. Piper Sandler boosted their price objective on shares of ConocoPhillips from $111.00 to $154.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Johnson Rice lowered ConocoPhillips from an “accumulate” rating to a “hold” rating and cut their target price for the stock from $108.00 to $105.00 in a research report on Friday, December 5th. Raymond James Financial lifted their target price on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Wednesday, February 11th. Sanford C. Bernstein lowered their price target on ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Finally, Susquehanna upped their price target on ConocoPhillips from $115.00 to $121.00 and gave the stock a “positive” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.38.

Institutional Investors Weigh In On ConocoPhillips

Several large investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. lifted its holdings in shares of ConocoPhillips by 3.3% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 17,719 shares of the energy producer’s stock valued at $1,630,000 after acquiring an additional 565 shares in the last quarter. Prudential PLC acquired a new stake in ConocoPhillips in the 2nd quarter valued at $1,240,000. Magnetar Financial LLC acquired a new stake in ConocoPhillips in the 2nd quarter valued at $254,000. Evelyn Partners Investment Management LLP raised its position in ConocoPhillips by 123.4% in the second quarter. Evelyn Partners Investment Management LLP now owns 6,691 shares of the energy producer’s stock valued at $600,000 after purchasing an additional 3,696 shares during the period. Finally, Evelyn Partners Investment Management Services Ltd lifted its stake in shares of ConocoPhillips by 442.0% during the second quarter. Evelyn Partners Investment Management Services Ltd now owns 439 shares of the energy producer’s stock worth $39,000 after purchasing an additional 358 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.