Cullen Frost Bankers Inc. Reduces Holdings in ConocoPhillips (NYSE:COP)

Cullen Frost Bankers Inc. decreased its position in shares of ConocoPhillips (NYSE:COP) by 0.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 229,518 shares of the energy producer’s stock after selling 1,711 shares during the period. Cullen Frost Bankers Inc.’s holdings in ConocoPhillips were worth $24,104,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of ConocoPhillips during the fourth quarter worth about $26,000. 10Elms LLP bought a new stake in shares of ConocoPhillips in the 4th quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new stake in shares of ConocoPhillips during the 4th quarter valued at about $32,000. Garde Capital Inc. bought a new position in ConocoPhillips during the 1st quarter worth $35,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of ConocoPhillips during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.5%

Shares of ConocoPhillips stock opened at $92.71 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The stock has a market cap of $117.20 billion, a PE ratio of 11.78, a PEG ratio of 2.54 and a beta of 0.61. The firm has a 50-day moving average of $90.82 and a 200-day moving average of $94.71. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the prior year, the company earned $2.05 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s payout ratio is currently 39.64%.

Analysts Set New Price Targets

COP has been the subject of a number of recent analyst reports. UBS Group increased their price objective on ConocoPhillips from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Morgan Stanley restated an “overweight” rating and set a $119.00 price objective on shares of ConocoPhillips in a report on Tuesday. Susquehanna cut their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a report on Monday, May 12th. Wells Fargo & Company reissued an “overweight” rating and set a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Finally, Barclays dropped their target price on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $122.70.

Insider Activity

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president directly owned 14,527 shares of the company’s stock, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.

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.