ConocoPhillips (NYSE:COP) Senior Vice President Andrew D. Lundquist completed a pair of transactions on March 13, 2026 that materially altered his direct holdings in the company. Lundquist sold 34,500 shares of ConocoPhillips common stock at $119.68 per share, a sale that produced gross proceeds of $4,128,960.
On the same date, Lundquist exercised options to purchase 34,500 shares of ConocoPhillips common stock at an exercise price of $49.755 per share, representing a total option exercise cost of $1,716,547. Following both the exercise and the subsequent sale, Lundquist is recorded as directly owning 17,469 shares of ConocoPhillips.
The timing of the transactions coincides with the stock trading near its 52-week high of $122.50, after producing a 31.5% return over the prior six months. The juxtaposition of an option exercise and immediate sale is consistent with a transaction that monetized gains accrued from long-dated option positions while leaving a residual direct stake.
Market research referenced in company-related analysis indicates that ConocoPhillips may appear undervalued on a Fair Value basis according to InvestingPro. Investors can access additional company analysis through ConocoPhillips’ Pro Research Report as provided within that service.
Recent corporate and market developments provide broader context for the insider activity. Goldman Sachs has added ConocoPhillips to its US Director’s Cut conviction list, signaling confidence from that firm in the company's prospects. At the same time, ConocoPhillips is reported to be exploring the sale of certain Permian Basin assets with a potential value of roughly $2 billion as part of a portfolio streamlining push.
Analyst coverage of the company has not been uniformly positive. Roth/MKM downgraded ConocoPhillips from Buy to Neutral, citing concerns about nearer-term downside risks to oil prices, a view linked to increased oil output from OPEC+. Separately, energy equities more broadly have rallied amid rising crude prices tied to conflicts in the Middle East, a macro driver cited alongside other sector activity.
Additional regional developments noted alongside these events include reports that Syria is preparing to award oil and gas exploration licenses to major energy companies. Taken together, these items underscore a dynamic period for ConocoPhillips and the wider energy sector as the company navigates asset-level decisions and varying analyst perspectives.