William L. Jr. Bullock Sells 45,200 Shares of ConocoPhillips (NYSE:COP) Stock (2024)

ConocoPhillips (NYSE:COP - Get Free Report) CFO William L. Jr. Bullock sold 45,200 shares of the firm's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the sale, the chief financial officer now owns 44,153 shares of the company's stock, valued at approximately $5,444,947.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

ConocoPhillips Stock Performance

• S&P 500 rockets to new highs as earnings beat estimates

COP opened at $126.28 on Tuesday. The firm has a market cap of $148.56 billion, a PE ratio of 13.94, a P/E/G ratio of 2.80 and a beta of 1.23. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $112.85 and a 200-day simple moving average of $115.95. ConocoPhillips has a fifty-two week low of $95.60 and a fifty-two week high of $127.35.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to analysts' expectations of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter last year, the firm posted $2.71 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 8.79 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

• Hess stock to see 96% growth in EPS

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Thursday, February 15th. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. ConocoPhillips's dividend payout ratio (DPR) is 25.61%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group lifted their price target on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, February 14th. Scotiabank increased their target price on ConocoPhillips from $115.00 to $120.00 and gave the company a "sector perform" rating in a research note on Friday, February 9th. Johnson Rice lowered ConocoPhillips from an "accumulate" rating to a "hold" rating in a research note on Thursday, December 14th. Mizuho reissued a "neutral" rating and issued a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a report on Friday. Finally, Piper Sandler reduced their price target on ConocoPhillips from $139.00 to $133.00 and set an "overweight" rating for the company in a report on Thursday, March 14th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and an average price target of $135.12.

• Diamondback Energy: 7x earnings is an energy diamond in the rough

View Our Latest Analysis on COP

Institutional Trading of ConocoPhillips

Several hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its position in shares of ConocoPhillips by 0.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer's stock worth $3,211,901,000 after buying an additional 108,956 shares during the period. Price T Rowe Associates Inc. MD boosted its position in ConocoPhillips by 24.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer's stock valued at $2,752,325,000 after purchasing an additional 4,726,952 shares during the last quarter. Morgan Stanley boosted its position in ConocoPhillips by 26.6% during the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer's stock valued at $1,964,432,000 after purchasing an additional 3,497,750 shares during the last quarter. Northern Trust Corp boosted its position in ConocoPhillips by 3.2% during the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer's stock valued at $1,495,927,000 after purchasing an additional 386,276 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in ConocoPhillips by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer's stock valued at $1,440,962,000 after purchasing an additional 1,152,907 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

About ConocoPhillips

(Get Free Report)

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.

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