ConocoPhillips (NYSE:COP) CFO Sells $5,574,064.00 in Stock

ConocoPhillips (NYSE:COP) CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the transaction, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ConocoPhillips Stock Up 0.7 %

Shares of NYSE:COP opened at $126.88 on Thursday. ConocoPhillips has a 52 week low of $95.70 and a 52 week high of $127.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The company has a market capitalization of $149.26 billion, a PE ratio of 13.96, a PEG ratio of 2.87 and a beta of 1.23. The company has a 50 day moving average price of $113.49 and a two-hundred day moving average price of $116.01.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the prior year, the firm earned $2.71 earnings per share. Analysts forecast that ConocoPhillips will post 8.79 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a $0.78 dividend. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.46%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. West Tower Group LLC bought a new position in ConocoPhillips in the second quarter valued at $27,000. Orion Capital Management LLC acquired a new stake in ConocoPhillips in the third quarter valued at $27,000. West Branch Capital LLC lifted its stake in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Sachetta LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter worth about $27,000. Finally, Cooksen Wealth LLC bought a new position in ConocoPhillips during the fourth quarter worth about $27,000. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on COP. Raymond James dropped their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Scotiabank boosted their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. UBS Group boosted their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. dropped their price target on shares of ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a research note on Friday, December 8th. Finally, Johnson Rice downgraded shares of ConocoPhillips from an “accumulate” rating to a “hold” rating in a research note on Thursday, December 14th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.12.

ConocoPhillips Company Profile

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.