Andrew Lundquist Sells 9,487 Shares of ConocoPhillips (NYSE:COP) Stock

ConocoPhillips (NYSE:COP) SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

ConocoPhillips Stock Down 1.1%

COP stock opened at $131.84 on Wednesday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.88. The business’s 50 day moving average price is $116.14 and its two-hundred day moving average price is $118.14. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The company has a market capitalization of $158.39 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.40 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm’s revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 earnings per share. As a group, analysts forecast that ConocoPhillips will post 10.55 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.5%. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Hedge Funds Weigh In On ConocoPhillips

A number of hedge funds have recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in ConocoPhillips in the fourth quarter worth about $25,000. Strive Asset Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at approximately $28,000. Frazier Financial Advisors LLC grew its holdings in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after buying an additional 145 shares during the last quarter. Allied Private Wealth LLC bought a new stake in shares of ConocoPhillips during the second quarter valued at approximately $32,000. Finally, BNP Paribas bought a new stake in shares of ConocoPhillips during the second quarter valued at approximately $33,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COP. Weiss Ratings upgraded shares of ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a research note on Monday, June 22nd. The Goldman Sachs Group cut their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Truist Financial raised their target price on shares of ConocoPhillips from $115.00 to $130.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Finally, Jefferies Financial Group boosted their price target on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $140.29.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: An executive said additional Arctic drilling activity is “inevitable,” signaling potential long-term growth opportunities for ConocoPhillips as access to the region expands. However, the development is unlikely to materially affect near-term earnings. More Arctic activity inevitable says ConocoPhillips
• Positive Sentiment: RBC Capital reaffirmed its Buy rating, supporting the bullish analyst view on COP. The company also benefits from firmer crude prices amid supply concerns, which could improve upstream revenue and cash flow. RBC Capital reaffirms Buy rating
• Neutral Sentiment: With COP shares near a three-month peak, a covered-call strategy offering a 1.75% yield at the $140 September strike may appeal to income-focused shareholders. The strategy also suggests investors see the stock’s upside as potentially limited in the near term. Covered call yields with ConocoPhillips
• Negative Sentiment: Senior Vice President Andrew Lundquist sold 9,487 shares for approximately $1.28 million, reducing his position by nearly 50%. While insider sales can reflect personal financial planning, the sizable transaction may weigh on sentiment, particularly with the stock near recent highs. Andrew Lundquist sells ConocoPhillips shares

About ConocoPhillips

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.