Key Points
- EVP Nicholas Olds sold 14,522 shares of ConocoPhillips on March 12 at an average price of $119.36 for a total of ~$1.73 million, reducing his stake by 53.96% to 12,389 shares (disclosed in an SEC filing).
- Other senior executives also disclosed sizable sales (e.g., Andrew Lundquist ~34,500 shares, Heather Hrap ~2,654 shares), creating a pattern of insider profit-taking that could weigh on the stock.
- For context, ConocoPhillips recently missed quarterly EPS estimates ($1.02 vs. $1.23), has a market cap near $150 billion, a dividend yield of 2.8%, and a consensus analyst rating of "Moderate Buy" with a ~$119.75 price target.
ConocoPhillips (NYSE:COP - Get Free Report) SVP Heather Hrap sold 2,654 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $317,630.72. Following the sale, the senior vice president directly owned 5,663 shares of the company's stock, valued at $677,747.84. This represents a 31.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
ConocoPhillips Trading Down 0.4%
Shares of COP stock opened at $121.37 on Tuesday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $122.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30. The stock has a 50 day simple moving average of $107.06 and a two-hundred day simple moving average of $97.09. The company has a market cap of $149.98 billion, a P/E ratio of 19.14, a PEG ratio of 2.89 and a beta of 0.27.
ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.21). The business had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $14.35 billion. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.ConocoPhillips's quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.98 earnings per share. Research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.
ConocoPhillips Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Wednesday, February 18th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $3.36 annualized dividend and a yield of 2.8%. ConocoPhillips's dividend payout ratio is currently 53.00%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in COP. Tema Etfs LLC bought a new position in shares of ConocoPhillips during the third quarter valued at about $1,804,000. Victory Capital Management Inc. grew its position in ConocoPhillips by 14.7% in the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer's stock worth $220,506,000 after purchasing an additional 298,245 shares in the last quarter. Natixis Advisors LLC grew its position in ConocoPhillips by 8.7% in the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer's stock worth $188,842,000 after purchasing an additional 160,410 shares in the last quarter. D.A. Davidson & CO. increased its stake in ConocoPhillips by 12.1% in the 3rd quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer's stock valued at $13,321,000 after buying an additional 15,202 shares during the last quarter. Finally, Chilton Capital Management LLC increased its stake in ConocoPhillips by 3.2% in the 3rd quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer's stock valued at $36,890,000 after buying an additional 11,958 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.
More ConocoPhillips News
Here are the key news stories impacting ConocoPhillips this week:
- Positive Sentiment: Barclays raised its price target to $128 and maintained an "overweight" rating, giving explicit analyst support and upside to the stock. This upgrade is a near-term bullish catalyst. Read More.
- Positive Sentiment: Piper Sandler bumped its COP price target to $154 (from $111), a much more aggressive bullish view that can underpin buying interest from institutional investors. Read More.
- Positive Sentiment: Industry commentary: U.S. oil CEOs (including ConocoPhillips’ peers) warned officials the Iran-related energy crisis could worsen — a development that typically supports higher oil prices and benefits oil producers’ earnings and cash flow. Read More.
- Neutral Sentiment: Market chatter flagged executive caution about ongoing volatility in energy markets; this underscores uncertainty (volatility can lift oil-company revenues but also increase stock-price swings). Read More.
- Negative Sentiment: Large insider sales: EVP Nicholas Olds sold 14,522 shares (~53.96% reduction of his holding) at ~$119.36 — a material, disclosed sale that can pressure the stock and prompt investor questions about timing. Read More.
- Negative Sentiment: Senior VP Andrew Lundquist sold 34,500 shares (a ~66% reduction) at ~$119.68 — another sizable executive sale that likely amplified selling sentiment today. Read More.
- Negative Sentiment: Senior VP Heather Hrap sold 2,654 shares (~31.9% reduction) at ~$119.68 — adds to the pattern of senior-level profit-taking disclosed this week. Read More.
Analysts Set New Price Targets
Several research firms have weighed in on COP. Roth Mkm downgraded shares of ConocoPhillips from a "buy" rating to a "neutral" rating and set a $112.00 price target for the company. in a research note on Tuesday, February 17th. UBS Group raised their target price on ConocoPhillips from $130.00 to $144.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Argus boosted their target price on ConocoPhillips from $111.00 to $128.00 and gave the company a "strong-buy" rating in a research report on Friday, February 13th. Capital One Financial upped their price target on ConocoPhillips from $111.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 20th. Finally, Morgan Stanley cut their price target on ConocoPhillips from $117.00 to $108.00 and set an "overweight" rating on the stock in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $119.75.
Get Our Latest Analysis on COP
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.
Further Reading
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