ConocoPhillips (NYSE:COP) SVP Heather Hrap Sells 2,654 Shares of Stock

ConocoPhillips (NYSE:COP) SVP Heather Hrap sold 2,654 shares of the firm’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $317,630.72. Following the sale, the senior vice president directly owned 5,663 shares in the company, valued at approximately $677,747.84. This trade represents a 31.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

ConocoPhillips Price Performance

Shares of COP opened at $121.37 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35. The stock has a market cap of $149.98 billion, a PE 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 business has a 50-day simple moving average of $107.06 and a two-hundred day simple moving average of $97.09.

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

ConocoPhillips Announces Dividend

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

Institutional Investors Weigh In On ConocoPhillips

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

Key Headlines Impacting 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.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on COP shares. Jefferies Financial Group upped their price target on shares of ConocoPhillips from $120.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Zacks Research cut shares of ConocoPhillips from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th. Wells Fargo & Company increased their price objective on ConocoPhillips from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, February 6th. BMO Capital Markets raised their target price on ConocoPhillips from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. lifted their target price on ConocoPhillips from $98.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $119.75.

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.