Timothy A. Leach Sells 55,500 Shares of ConocoPhillips (NYSE:COP) Stock

ConocoPhillips (NYSE:COP) Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

ConocoPhillips Stock Performance

COP stock traded up $1.27 during trading on Wednesday, reaching $109.61. 3,248,583 shares of the company’s stock were exchanged, compared to its average volume of 5,699,072. ConocoPhillips has a 1-year low of $102.27 and a 1-year high of $135.18. The firm has a market cap of $128.19 billion, a PE ratio of 12.31, a P/E/G ratio of 2.10 and a beta of 1.24. The company’s fifty day moving average price is $111.65 and its 200-day moving average price is $117.08. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the prior year, the firm posted $1.84 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 8.67 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Analyst Upgrades and Downgrades

COP has been the subject of several analyst reports. Scotiabank lowered their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada boosted their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wells Fargo & Company cut their target price on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Sanford C. Bernstein dropped their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.53.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds have recently made changes to their positions in the company. Sachetta LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $27,000. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at $27,000. Cape Investment Advisory Inc. grew its holdings in shares of ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 121 shares in the last quarter. Stephens Consulting LLC increased its stake in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth $31,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

About ConocoPhillips

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.