Insider Selling: ConocoPhillips (NYSE:COP) CEO Sells $76,427,370.00 in Stock

ConocoPhillips (NYSE:COP) CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ConocoPhillips Trading Up 0.3 %

Shares of COP stock opened at $127.28 on Friday. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $128.64. 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 firm has a market capitalization of $149.73 billion, a PE ratio of 14.08, a PEG ratio of 2.87 and a beta of 1.23. The stock has a fifty day simple moving average of $113.87 and a two-hundred day simple moving average of $116.08.

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

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors have recently bought and sold shares of the business. West Tower Group LLC bought a new position in shares of ConocoPhillips during the 2nd quarter valued at about $27,000. Orion Capital Management LLC bought a new position in shares of ConocoPhillips in the 3rd quarter valued at about $27,000. West Branch Capital LLC lifted its holdings in shares of ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Sachetta LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Finally, Cooksen Wealth LLC bought a new position in shares of ConocoPhillips in the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Scotiabank boosted their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday. Susquehanna decreased their target price on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Piper Sandler decreased their target price on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Finally, UBS Group upped their price objective on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Six equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.35.

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.