Insider Selling: ConocoPhillips (NYSE:COP) CEO Sells 584,900 Shares of Stock

ConocoPhillips (NYSE:COPGet Rating) CEO Ryan Michael Lance sold 584,900 shares of ConocoPhillips stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $121.21, for a total value of $70,895,729.00. Following the transaction, the chief executive officer now owns 44,522 shares of the company’s stock, valued at approximately $5,396,511.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

NYSE COP traded down $0.85 during trading hours on Wednesday, hitting $121.86. The company had a trading volume of 7,009,267 shares, compared to its average volume of 8,493,794. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.51. ConocoPhillips has a 1-year low of $51.41 and a 1-year high of $124.08. The company has a market cap of $157.62 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.41 and a beta of 1.34. The business has a 50 day moving average of $103.58 and a 200-day moving average of $91.70.

ConocoPhillips (NYSE:COPGet Rating) last released its quarterly earnings data on Thursday, May 5th. The energy producer reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.03. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The company had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $18.36 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. ConocoPhillips’s revenue for the quarter was up 82.7% on a year-over-year basis. Sell-side analysts expect that ConocoPhillips will post 15.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Tuesday, May 17th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, May 16th. This represents a $1.84 annualized dividend and a dividend yield of 1.51%. ConocoPhillips’s dividend payout ratio (DPR) is 18.97%.

A number of equities analysts have weighed in on COP shares. Susquehanna lifted their price objective on ConocoPhillips from $108.00 to $129.00 in a research note on Monday, April 25th. Scotiabank upgraded ConocoPhillips from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $110.00 to $115.00 in a report on Monday, April 18th. Morgan Stanley lowered their target price on ConocoPhillips from $120.00 to $118.00 and set an “overweight” rating on the stock in a report on Monday. Truist Financial boosted their target price on ConocoPhillips from $115.00 to $130.00 in a report on Thursday, April 21st. Finally, Barclays boosted their target price on ConocoPhillips from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, May 25th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and an average target price of $106.04.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Delos Wealth Advisors LLC increased its holdings in ConocoPhillips by 1,300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 378 shares of the energy producer’s stock valued at $27,000 after buying an additional 351 shares in the last quarter. Carroll Investors Inc acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $28,000. James Investment Research Inc. acquired a new position in shares of ConocoPhillips in the 1st quarter valued at $29,000. Fairfield Bush & CO. acquired a new position in shares of ConocoPhillips in the 1st quarter valued at $31,000. Finally, Lenox Wealth Advisors LLC lifted its holdings in shares of ConocoPhillips by 435.6% during the 4th quarter. Lenox Wealth Advisors LLC now owns 482 shares of the energy producer’s stock valued at $35,000 after acquiring an additional 392 shares in the last quarter. 78.80% of the stock is owned by hedge funds and other institutional investors.

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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