Ryan Michael Lance Sells 607,000 Shares of ConocoPhillips (NYSE:COP) Stock

ConocoPhillips (NYSE:COP) CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $126.88 on Thursday. The company has a 50-day simple moving average of $113.49 and a 200-day simple moving average of $116.01. ConocoPhillips has a one year low of $95.70 and a one year high of $127.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The stock has a market capitalization of $149.26 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 2.87 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same period in the prior year, the company posted $2.71 earnings per share. On average, analysts predict that ConocoPhillips will post 8.79 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COP. Raymond James lowered their price objective on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. UBS Group lifted their price objective on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Johnson Rice cut ConocoPhillips from an “accumulate” rating to a “hold” rating in a report on Thursday, December 14th. Mizuho reissued a “neutral” rating and issued a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Finally, Piper Sandler reduced their price target on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $135.12.

Institutional Trading of ConocoPhillips

Several large investors have recently modified their holdings of the business. Norris Perne & French LLP MI grew its position in shares of ConocoPhillips by 1.9% in the third quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock valued at $523,000 after purchasing an additional 80 shares during the last quarter. Sloy Dahl & Holst LLC grew its position in shares of ConocoPhillips by 3.3% in the third quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock valued at $315,000 after purchasing an additional 85 shares during the last quarter. Mascoma Wealth Management LLC grew its position in shares of ConocoPhillips by 35.9% in the third quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock valued at $40,000 after purchasing an additional 88 shares during the last quarter. CRA Financial Services LLC grew its position in shares of ConocoPhillips by 1.9% in the third quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock valued at $563,000 after purchasing an additional 89 shares during the last quarter. Finally, KLCM Advisors Inc. grew its position in shares of ConocoPhillips by 2.8% in the third quarter. KLCM Advisors Inc. now owns 3,305 shares of the energy producer’s stock valued at $396,000 after purchasing an additional 89 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.