R.A. Walker, a director at ConocoPhillips (COP), recently added 6,000 shares. The buy increased the director’s holdings by 27 percent, and came to a total cost of $627,000.
The same director was the last buyer of shares back in August 2021, with an initial stake of 22,500 shares, which cost just over $1.24 million. Otherwise, company directors and executives alike have largely been steady sellers of the stock, mostly on the exercise of stock options.
Overall, insiders own a scant 0.14 percent of shares.
ConocoPhillips is up 19 percent over the past year, amid a general market decline. Strong energy prices have been good for the company operationally. Both income and revenue have risen by about 25 percent in the same period.
Action to take: Despite the rally, shares are still inexpensive at 9 times forward earnings. That makes the stock worth accumulating at current prices or on a dip. Shares yield about 2.2 percent at current prices.
For traders, the August $120 calls, last going for about $5.15, offer mid-double-digit returns in the months ahead. The stock has been somewhat range-bound over the past few months, and is now near the lower end of its range. Plus, shares will likely trend up going into the summer driving season.
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.