Key Points
- CEO Ryan Michael Lance sold 500,708 shares on December 19 at $92.50 for a total of $46,315,490, cutting his stake by 60.57% to 325,972 shares, as disclosed in an SEC filing.
- ConocoPhillips posted a quarterly EPS of $1.61 (beating estimates) on $15.03B revenue, recently raised its quarterly dividend to $0.84 (annualized $3.36, ~3.6% yield), and holds a consensus analyst rating of "Moderate Buy" with a $114.08 target.
ConocoPhillips (NYSE:COP - Get Free Report) CEO Ryan Michael Lance sold 500,708 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 325,972 shares of the company's stock, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
ConocoPhillips Price Performance
NYSE:COP opened at $92.75 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $106.20. The stock's 50-day moving average price is $89.77 and its 200-day moving average price is $92.50. The stock has a market capitalization of $114.61 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 2.11 and a beta of 0.32.
ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The company had revenue of $15.03 billion during the quarter, compared to analysts' expectations of $14.51 billion. During the same quarter in the prior year, the firm posted $1.78 EPS. ConocoPhillips's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.
ConocoPhillips Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a dividend of $0.84 per share. This is a positive change from ConocoPhillips's previous quarterly dividend of $0.78. The ex-dividend date was Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.6%. ConocoPhillips's payout ratio is 47.52%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in COP. Triumph Capital Management lifted its stake in ConocoPhillips by 9.0% during the 3rd quarter. Triumph Capital Management now owns 2,799 shares of the energy producer's stock worth $265,000 after acquiring an additional 232 shares in the last quarter. Keel Point LLC increased its stake in ConocoPhillips by 6.8% during the 3rd quarter. Keel Point LLC now owns 7,709 shares of the energy producer's stock worth $729,000 after buying an additional 493 shares during the period. Hudson Bay Capital Management LP lifted its holdings in ConocoPhillips by 139.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 9,237 shares of the energy producer's stock worth $874,000 after buying an additional 32,529 shares in the last quarter. Severin Investments LLC purchased a new position in ConocoPhillips in the 3rd quarter valued at approximately $473,000. Finally, Strategic Advocates LLC acquired a new position in shares of ConocoPhillips in the third quarter worth $52,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on COP shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ConocoPhillips in a report on Monday. Piper Sandler reiterated an "overweight" rating and issued a $115.00 price objective on shares of ConocoPhillips in a report on Monday, November 24th. The Goldman Sachs Group reduced their target price on ConocoPhillips from $111.00 to $108.00 and set a "buy" rating for the company in a report on Friday, October 17th. Mizuho increased their price objective on ConocoPhillips from $120.00 to $121.00 and gave the company an "outperform" rating in a research note on Friday, December 12th. Finally, Morgan Stanley decreased their target price on shares of ConocoPhillips from $122.00 to $117.00 and set an "overweight" rating on the stock in a research note on Thursday, November 20th. Nineteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $114.08.
View Our Latest Report on COP
About ConocoPhillips
(
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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