ConocoPhillips (NYSE:COP) CEO Ryan Michael Lance Sells 500,708 Shares

by · The Markets Daily

ConocoPhillips (NYSE:COP – Get Free Report) 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 transaction of $46,315,490.00. Following the sale, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

ConocoPhillips Stock Performance

NYSE COP traded down $0.56 during trading on Tuesday, reaching $92.75. The company’s stock had a trading volume of 5,658,610 shares, compared to its average volume of 7,250,280. The firm has a market cap of $114.61 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 2.11 and a beta of 0.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The business’s fifty day moving average price is $89.67 and its 200-day moving average price is $92.46. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $106.20.

ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The business had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a $0.84 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.36 annualized dividend and a dividend yield of 3.6%. ConocoPhillips’s dividend payout ratio (DPR) is 47.52%.

Institutional Investors Weigh In On ConocoPhillips

Institutional investors have recently made changes to their positions in the stock. Navalign LLC lifted its position 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 purchasing an additional 108 shares during the last quarter. Greenfield Savings Bank raised its holdings in ConocoPhillips by 1.2% in the 3rd quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock worth $853,000 after purchasing an additional 108 shares in the last quarter. Tritonpoint Wealth LLC boosted its position in ConocoPhillips by 1.3% during the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock valued at $747,000 after acquiring an additional 110 shares in the last quarter. Iowa State Bank boosted its position in shares of ConocoPhillips by 0.5% during the second 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 raised its holdings in ConocoPhillips by 2.8% in the second 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 in the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on COP shares. JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $112.00 to $102.00 and set an “overweight” rating for the company in a research note on Monday, December 8th. Royal Bank Of Canada lifted their price target on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Jefferies Financial Group restated a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Morgan Stanley decreased their target price on ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating for the company in a research note on Thursday, November 20th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $131.00 price objective on shares of ConocoPhillips in a research report on Thursday, November 6th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $114.08.

View Our Latest Stock Report on ConocoPhillips

ConocoPhillips Company Profile

(Get Free Report)

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.

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