Nicholas Olds Sells 14,522 Shares of ConocoPhillips (NYSE:COP) Stock

ConocoPhillips (NYSE:COP) EVP Nicholas Olds sold 14,522 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the sale, the executive vice president directly owned 12,389 shares of the company’s stock, valued at approximately $1,478,751.04. This represents a 53.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded down $0.52 on Monday, hitting $121.37. 7,467,336 shares of the company traded hands, compared to its average volume of 9,445,663. ConocoPhillips has a 52 week low of $79.88 and a 52 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 business has a 50-day simple moving average of $106.62 and a 200 day simple moving average of $96.93. The stock has a market capitalization of $149.98 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 2.89 and a beta of 0.27.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.21). The company had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. 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 business earned $1.98 earnings per share. Research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Wednesday, February 18th were given a $0.84 dividend. 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 (DPR) is presently 53.00%.

Hedge Funds Weigh In On ConocoPhillips

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of ConocoPhillips by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after acquiring an additional 408,304 shares during the period. Capital International Investors raised its position in shares of ConocoPhillips by 5.9% during the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after purchasing an additional 2,714,663 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after acquiring an additional 2,350,645 shares in the last quarter. Franklin Resources Inc. grew its stake in ConocoPhillips by 4.5% during the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock valued at $1,407,770,000 after acquiring an additional 648,432 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of ConocoPhillips by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock valued at $1,389,862,000 after acquiring an additional 193,401 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. BMO Capital Markets upped their target price on ConocoPhillips from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Sanford C. Bernstein decreased their price target on ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. UBS Group boosted their price objective on ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Wolfe Research increased their price target on shares of ConocoPhillips from $122.00 to $123.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Capital One Financial raised their price target on ConocoPhillips from $111.00 to $116.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 20th. One equities 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 issued a Sell rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.75.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Barclays raised its price target on COP to $128 and upgraded the stock to “overweight,” signaling analyst confidence in further upside from current levels. This provides near-term support for the share price. Barclays Lifts PT on ConocoPhillips (COP) to $128 From $118 – Here’s Why
• Positive Sentiment: Piper Sandler also materially increased its target to $154, a more bullish view that implies larger upside and may attract buy-side interest into the stock. ConocoPhillips (COP) Price Target Increased to $154 at Piper Sandler
• Neutral Sentiment: Top U.S. oil CEOs, including ConocoPhillips’ peers, warned the White House that the energy crisis from the Middle East conflict could worsen. Higher oil-price risk could be a tailwind for COP but also increases macro volatility and policy risk. US oil CEOs warn Trump administration that energy crisis likely to worsen, WSJ reports
• Negative Sentiment: Recent reporting on insider share sales at ConocoPhillips raised questions about capital-return plans and the outlook, which can weigh on investor confidence and pressure the stock. ConocoPhillips Insider Sales Stir Questions On Capital Returns And Outlook
• Negative Sentiment: Recent quarterly results showed EPS and revenue below Street estimates, reminding investors that operational/commodity cycles and near-term results can disappoint even as longer-term price targets rise. This keeps some traders cautious. ConocoPhillips Trading / Recent Results

ConocoPhillips Company Profile

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.