ConocoPhillips (NYSE:COP) EVP Nicholas Olds Sells 6,994 Shares

Key Points

• ConocoPhillips EVP Nicholas Olds sold 6,994 shares on March 23 at an average price of $127.06 for proceeds of about $888,657.64, reducing his holdings by 56.45% to 5,395 shares.
• Quarterly results missed estimates: the company reported $1.02 EPS versus $1.23 expected and revenue of $13.86 billion versus $14.35 billion, with revenue down 3.7% year‑over‑year.
• The firm pays a quarterly dividend of $0.84 ($3.36 annualized, a 2.6% yield) and holds a consensus analyst rating of "Moderate Buy" with an average target price of $120.38.

ConocoPhillips (NYSE:COP - Get Free Report) EVP Nicholas Olds sold 6,994 shares of the firm's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the sale, the executive vice president directly owned 5,395 shares in the company, valued at approximately $685,488.70. This trade represents a 56.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ConocoPhillips Stock Up 0.2%

NYSE COP traded up $0.24 on Monday, hitting $127.16. 10,581,719 shares of the stock were exchanged, compared to its average volume of 9,939,706. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $128.36. The company has a 50-day moving average price of $109.30 and a 200-day moving average price of $97.85. The company has a market cap of $157.13 billion, a PE ratio of 20.06, a PEG ratio of 3.49 and a beta of 0.27. 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 - Get Free Report) last issued its earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.21). The business had revenue of $13.86 billion for 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 was down 3.7% on a year-over-year basis. During the same period last year, the business posted $1.98 EPS. Sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business 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 2.6%. The ex-dividend date was Wednesday, February 18th. ConocoPhillips's payout ratio is currently 53.00%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on COP. Jefferies Financial Group lifted their price target on shares of ConocoPhillips from $120.00 to $129.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. BMO Capital Markets upped their price objective on shares of ConocoPhillips from $115.00 to $130.00 and gave the company an "outperform" rating in a research note on Tuesday, March 3rd. JPMorgan Chase & Co. raised their price objective on ConocoPhillips from $98.00 to $103.00 and gave the stock a "neutral" rating in a report on Friday, February 6th. Bank of America reiterated an "underperform" rating and set a $102.00 target price on shares of ConocoPhillips in a research report on Friday, January 16th. Finally, Roth Mkm cut ConocoPhillips from a "buy" rating to a "neutral" rating and set a $112.00 target price for the company. in a research report on Tuesday, February 17th. One 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. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and an average target price of $120.38.

Hedge Funds Weigh In On ConocoPhillips

Institutional investors have recently added to or reduced their stakes in the stock. Howard Hughes Medical Institute acquired a new position in shares of ConocoPhillips in the second quarter valued at approximately $25,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in ConocoPhillips in the 4th quarter valued at $25,000. Cloud Capital Management LLC purchased a new position in ConocoPhillips in the 3rd quarter valued at $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in ConocoPhillips in the 3rd quarter valued at $28,000. Finally, Board of the Pension Protection Fund purchased a new position in ConocoPhillips during the 4th quarter worth $28,000. Institutional investors and hedge funds own 82.36% of the company's stock.

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.

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