Insider Selling: ConocoPhillips (NYSE:COP) Director Sells 55,500 Shares of Stock

ConocoPhillips (NYSE:COP) Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ConocoPhillips Stock Up 1.2 %

ConocoPhillips stock traded up $1.27 during trading on Wednesday, hitting $109.61. 3,248,583 shares of the company were exchanged, compared to its average volume of 5,699,072. The company has a market capitalization of $128.19 billion, a P/E ratio of 12.31, a PEG ratio of 2.10 and a beta of 1.24. The business’s 50 day moving average is $111.65 and its 200 day moving average is $117.08. ConocoPhillips has a 52 week low of $102.27 and a 52 week high of $135.18. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the previous year, the firm earned $1.84 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts predict that ConocoPhillips will post 8.67 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be paid a $0.58 dividend. The ex-dividend date is Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.12%. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of research reports. Mizuho lowered their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Truist Financial lowered their price target on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Scotiabank lowered their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, Wolfe Research initiated coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.53.

Institutional Trading of ConocoPhillips

A number of hedge funds and other institutional investors have recently bought and sold shares of COP. International Assets Investment Management LLC lifted its stake in ConocoPhillips by 20.7% during the fourth quarter. International Assets Investment Management LLC now owns 9,600 shares of the energy producer’s stock worth $1,114,000 after purchasing an additional 1,644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $74,000. Cullen Investment Group LTD. purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at $384,000. Dakota Wealth Management grew its holdings in shares of ConocoPhillips by 1.4% during the 4th quarter. Dakota Wealth Management now owns 58,025 shares of the energy producer’s stock valued at $6,735,000 after purchasing an additional 804 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in ConocoPhillips by 0.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,185,030 shares of the energy producer’s stock worth $137,546,000 after purchasing an additional 5,409 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Company Profile

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.