William Mcraven Acquires 5,768 Shares of ConocoPhillips (NYSE:COP) Stock

ConocoPhillips (NYSE:COP) Director William Mcraven purchased 5,768 shares of ConocoPhillips stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the transaction, the director directly owned 5,768 shares in the company, valued at $499,970.24. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

ConocoPhillips Stock Up 1.7%

NYSE:COP traded up $1.45 during trading hours on Monday, hitting $88.28. The stock had a trading volume of 6,066,286 shares, compared to its average volume of 7,697,327. The company has a market cap of $110.26 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The business has a 50 day simple moving average of $91.58 and a two-hundred day simple moving average of $92.01. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. Analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $0.84 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

Analysts Set New Price Targets

Several research firms have issued reports on COP. Roth Capital dropped their price objective on ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Raymond James Financial dropped their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. The Goldman Sachs Group cut their price target on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, October 17th. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Finally, Susquehanna cut their target price on shares of ConocoPhillips to $113.00 and set a “positive” rating on the stock in a research note on Monday, October 20th. Eighteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.54.

Institutional Trading of ConocoPhillips

Several hedge funds have recently made changes to their positions in the stock. Navalign LLC increased its position in ConocoPhillips by 1.1% in the second quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock worth $890,000 after buying an additional 108 shares during the period. Greenfield Savings Bank boosted its holdings in shares of ConocoPhillips by 1.2% during the third quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock valued at $853,000 after acquiring an additional 108 shares during the period. Tritonpoint Wealth LLC grew its position in shares of ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after acquiring an additional 110 shares during the last quarter. Iowa State Bank grew its position in shares of ConocoPhillips by 0.5% during the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after acquiring an additional 110 shares during the last quarter. Finally, Perennial Investment Advisors LLC increased its holdings in shares of ConocoPhillips by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock worth $368,000 after acquiring an additional 112 shares during the period. Institutional investors own 82.36% of the company’s stock.

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.