Andrew D. Lundquist, senior vice president of ConocoPhillips, sold 9,487 common shares on August 21, 2026 at $135.15 per share for a total of $1.28 million, according to regulatory filings.
The transaction reduced Lundquist’s direct holdings in the company to 9,593 shares. ConocoPhillips’ stock closed at $133.35 on the same day, near its 52-week high of $135.88. The shares have gained 47% year to date.
ConocoPhillips reported adjusted earnings of $3.24 per share in the second quarter of 2026, exceeding Wall Street’s estimate of $2.85, while revenue reached $18.64 billion, slightly below projections. Production averaged 2.248 million barrels of oil equivalent per day, above the company’s guidance range. Free cash flow totaled $4.2 billion.
UBS raised its price target on ConocoPhillips to $153 from $143, maintaining a buy rating. The upgrade cited the company’s strong project portfolio and the recent appointment of Andy O’Brien as CEO.
In a separate development, BP Aker agreed to acquire Apache’s stake in the Losgann/Froskelår discovery and a 51% operating stake in ConocoPhillips Skandinavia’s Slagugle area. The deal, subject to regulatory approvals, would transfer operational control of both assets to BP Aker.
