Texas Bank & Trust Co Sells 2,042 Shares of ConocoPhillips $COP

Texas Bank & Trust Co lessened its stake in ConocoPhillips (NYSE:COP) by 26.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,758 shares of the energy producer’s stock after selling 2,042 shares during the period. Texas Bank & Trust Co’s holdings in ConocoPhillips were worth $517,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Charles Schwab Investment Management Inc. lifted its stake in shares of ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after acquiring an additional 31,736,423 shares during the period. Nuveen LLC acquired a new position in shares of ConocoPhillips in the 1st quarter worth approximately $658,981,000. AQR Capital Management LLC lifted its position in shares of ConocoPhillips by 190.5% in the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after purchasing an additional 3,058,505 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after purchasing an additional 2,080,625 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of ConocoPhillips by 53.8% during the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock worth $550,334,000 after buying an additional 1,834,118 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $88.99 on Monday. The business has a 50-day simple moving average of $92.66 and a 200 day simple moving average of $92.07. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $111.14 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 2.36 and a beta of 0.62.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.5%. ConocoPhillips’s dividend payout ratio (DPR) is presently 41.88%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Piper Sandler dropped their target price on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 13th. Raymond James Financial dropped their price objective on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Wall Street Zen cut ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Royal Bank Of Canada lifted their target price on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Finally, Weiss Ratings cut ConocoPhillips from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 24th. Eighteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.63.

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.