Texas Bank & Trust Co Buys Shares of 7,815 ConocoPhillips (NYSE:COP)

Texas Bank & Trust Co purchased a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,815 shares of the energy producer’s stock, valued at approximately $775,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COP. Price T Rowe Associates Inc. MD increased its holdings in ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Leavell Investment Management Inc. grew its position in shares of ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after purchasing an additional 7,174 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of ConocoPhillips during the 4th quarter valued at $1,767,000. Asset Management One Co. Ltd. increased its holdings in shares of ConocoPhillips by 11.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer’s stock worth $50,345,000 after purchasing an additional 54,196 shares during the period. Finally, Baugh & Associates LLC raised its position in shares of ConocoPhillips by 16.2% in the fourth quarter. Baugh & Associates LLC now owns 49,839 shares of the energy producer’s stock worth $4,769,000 after buying an additional 6,956 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COP has been the subject of several recent analyst reports. Royal Bank of Canada reduced their target price on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Scotiabank dropped their price target on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. decreased their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Bank of America cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and cut their price target for the stock from $138.00 to $107.00 in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.74.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $92.34 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $116.73 billion, a PE ratio of 11.85, a PEG ratio of 0.79 and a beta of 0.64. The company’s fifty day moving average is $93.24 and its 200 day moving average is $99.03. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $122.11.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The firm had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $0.78 dividend. The ex-dividend date is Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.38%. ConocoPhillips’s dividend payout ratio (DPR) is currently 39.64%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.