Insider Trading Report: ConocoPhillips (COP)

RA Walker, a director at ConocoPhillips (COP) recently bought 22,500 shares. The stake represents an initial buy for the director, and came to a total cost of just under $1.5 million.

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  • This marks the second insider buy since May at the company. As with many large cap companies, a number of insiders are also sellers, although the total insider activity has been rather small overall over the past two years.

    Overall, company insiders own just 0.1 percent of company shares. The stock is up slightly more than the S&P 500 over the past 52 weeks, thanks to a strong rebound in oil prices. Revenue is up over 240 percent and earnings are up a whopping 704 percent.

    Action to take: While the company’s latest overall growth numbers will moderate, shares still look attractive here. Buyers of shares can pick up a 3.1 percent dividend yield today, with a chance for some slight income growth down the line.

    While oil prices have recently pulled back following the latest OPEC production deal, oil prices are still elevated and demand remains robust thanks to a strengthening economy.

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  • For options traders, the November $60 options are a near-the-money trade with sizeable volume. Last trading near $2.90, traders can likely leverage a modest rally in shares in the coming weeks into mid-to-high double-digit profits.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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