Insider Buying: ConocoPhillips (NYSE:COP) Director Buys $499,970.24 in Stock

ConocoPhillips (NYSE:COP) Director William Mcraven purchased 5,768 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ConocoPhillips Price Performance

Shares of COP opened at $89.00 on Thursday. The firm has a market cap of $109.97 billion, a PE ratio of 11.95, a PEG ratio of 2.36 and a beta of 0.58. The firm’s 50 day moving average price is $91.08 and its 200 day moving average price is $91.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. The company had revenue of $15.03 billion during 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 company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 earnings per share. As a group, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.8%. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

Institutional Investors Weigh In On ConocoPhillips

Several hedge funds have recently modified their holdings of the business. Howard Hughes Medical Institute acquired a new position in ConocoPhillips during the 2nd quarter valued at $25,000. Cloud Capital Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter worth about $26,000. Financial Network Wealth Advisors LLC raised its position in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of ConocoPhillips in the first quarter valued at about $31,000. Finally, Bogart Wealth LLC grew its position in ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $131.00 price target on shares of ConocoPhillips in a research report on Thursday, November 6th. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Evercore ISI decreased their target price on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a research report on Monday, October 6th. Royal Bank Of Canada lifted their price target on shares of ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Finally, Jefferies Financial Group reduced their price objective on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Eighteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $115.33.

About ConocoPhillips

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.