ConocoPhillips (NYSE:COP) CEO Sells $46,315,490.00 in Stock

ConocoPhillips (NYSE:COP) CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the transaction, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at $30,152,410. This trade represents a 60.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ConocoPhillips Stock Performance

NYSE:COP opened at $91.85 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $113.50 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 2.08 and a beta of 0.32. The firm has a 50-day moving average price of $89.95 and a two-hundred day moving average price of $92.49. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $106.20.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. The company had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 earnings per share. As a group, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a $0.84 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, November 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a report on Monday. Piper Sandler reissued an “overweight” rating and issued a $115.00 price objective on shares of ConocoPhillips in a research report on Monday, November 24th. UBS Group raised their target price on shares of ConocoPhillips from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Sanford C. Bernstein lifted their target price on shares of ConocoPhillips from $115.00 to $116.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Finally, Royal Bank Of Canada increased their price target on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Nineteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $114.08.

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds have recently made changes to their positions in the stock. Navalign LLC boosted its holdings in ConocoPhillips by 1.1% in the second quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after acquiring an additional 108 shares during the last quarter. Greenfield Savings Bank increased its stake in ConocoPhillips by 1.2% during the third quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock worth $853,000 after acquiring an additional 108 shares during the last quarter. Tritonpoint Wealth LLC raised its holdings in shares of ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after purchasing an additional 110 shares during the period. Iowa State Bank lifted its stake in shares of ConocoPhillips by 0.5% in the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after purchasing an additional 110 shares in the last quarter. Finally, Perennial Investment Advisors LLC grew its holdings in shares of ConocoPhillips by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock worth $368,000 after purchasing an additional 112 shares during the period. 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.