ConocoPhillips (NYSE: COP) senior executive Andrew D. Lundquist sold 9,487 common shares on August 21, 2026, for a total of $1.28 million at $135.15 per share. The transaction reduced Lundquist’s direct holdings to 9,593 shares.
The disposal occurred as ConocoPhillips’ stock traded near its 52-week high of $135.88, following a 47% year-to-date return. Shares were valued at $133.35 at the time of reporting.
The executive’s sale follows the company’s second-quarter 2026 results, which showed adjusted earnings per share of $3.24, exceeding Wall Street’s estimate of $2.85. Revenue totaled $18.64 billion, slightly below forecasts, while production reached 2.248 million barrels of oil equivalent per day, surpassing the high end of guidance. Free cash flow for the quarter was reported at $4.2 billion.
UBS maintained a Buy rating on ConocoPhillips, raising its price target to $153 from $143. Analysts cited the company’s strong project pipeline and the recent appointment of CEO Andy O’Brien as key positives.
ConocoPhillips also announced corporate developments, including an agreement for Aker BP to acquire Apache’s stake in the Losgann/Froskelår discovery and a 51% working interest in the Slagugle area from ConocoPhillips Skandinavia. The transactions remain subject to regulatory approvals, with plans for Aker BP to assume operatorship on both sides of the Losgann/Froskelår accumulation.
