ConocoPhillips (NYSE:COP) SVP Andrew Lundquist Sells 34,500 Shares of Stock

ConocoPhillips (NYSE:COP) SVP Andrew Lundquist sold 34,500 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the sale, the senior vice president directly owned 17,469 shares of the company’s stock, valued at $2,090,689.92. This represents a 66.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ConocoPhillips Trading Down 0.4%

Shares of NYSE:COP opened at $121.37 on Tuesday. The firm has a market cap of $149.98 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.89 and a beta of 0.27. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $122.50. The company’s fifty day simple moving average is $107.06 and its 200 day simple moving average is $97.09. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The company had revenue of $13.86 billion during the quarter, compared to analyst estimates of $14.35 billion. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.ConocoPhillips’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Wednesday, February 18th. ConocoPhillips’s dividend payout ratio is currently 53.00%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on COP shares. Susquehanna lifted their target price on ConocoPhillips from $115.00 to $121.00 and gave the company a “positive” rating in a research report on Friday, February 6th. Citigroup raised their price target on shares of ConocoPhillips from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Sanford C. Bernstein lowered their price objective on shares of ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Roth Mkm cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 target price for the company. in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $119.75.

Trending Headlines about ConocoPhillips

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.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in COP. SBI Securities Co. Ltd. boosted its holdings in shares of ConocoPhillips by 8.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,650 shares of the energy producer’s stock valued at $148,000 after buying an additional 128 shares during the last quarter. Advisors Capital Management LLC increased its holdings in ConocoPhillips by 3.1% during the second quarter. Advisors Capital Management LLC now owns 12,351 shares of the energy producer’s stock worth $1,108,000 after buying an additional 371 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in ConocoPhillips by 6.1% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 309,613 shares of the energy producer’s stock worth $27,785,000 after acquiring an additional 17,839 shares in the last quarter. Meridian Wealth Management LLC raised its position in ConocoPhillips by 5.9% during the second quarter. Meridian Wealth Management LLC now owns 6,681 shares of the energy producer’s stock worth $600,000 after acquiring an additional 374 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in ConocoPhillips by 3.4% in the second quarter. Cetera Investment Advisers now owns 351,590 shares of the energy producer’s stock valued at $31,552,000 after acquiring an additional 11,552 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

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.