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 that occurred on 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 completion of the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

ConocoPhillips Price Performance

NYSE:COP 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 quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $149.73 billion, a P/E ratio of 14.08, a P/E/G ratio of 2.87 and a beta of 1.23. The stock’s fifty day moving average is $113.87 and its two-hundred day moving average is $116.08.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating 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 company had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the previous year, the business earned $2.71 earnings per share. Equities analysts expect that ConocoPhillips will post 8.79 EPS for the current year.

ConocoPhillips Increases Dividend

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

Wall Street Analyst Weigh In

COP has been the topic of several research reports. Morgan Stanley raised their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday. Johnson Rice downgraded ConocoPhillips from an “accumulate” rating to a “hold” rating in a research report on Thursday, December 14th. Mizuho restated a “neutral” rating and issued a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Scotiabank raised their target price on ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Friday, February 9th. Finally, Raymond James decreased their target price on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $135.35.

Institutional Investors Weigh In On ConocoPhillips

A number of institutional investors have recently modified their holdings of COP. West Tower Group LLC acquired a new stake in shares of ConocoPhillips in the second quarter valued at $27,000. Orion Capital Management LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter worth about $27,000. West Branch Capital LLC boosted its position in shares of ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Sachetta LLC acquired a new position in shares of ConocoPhillips during the 4th quarter worth about $27,000. Finally, Cooksen Wealth LLC acquired a new position in shares of ConocoPhillips during the 4th quarter worth about $27,000. 82.36% of the stock is owned by institutional investors and hedge funds.

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.