Texas Bank & Trust Co Acquires New Holdings in ConocoPhillips (NYSE:COP)

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

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

Analyst Ratings Changes

A number of equities research analysts have commented on COP shares. Bank of America cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $138.00 to $107.00 in a report on Tuesday, April 29th. Susquehanna cut their target price on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research report on Monday, May 12th. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research report on Thursday, January 30th. UBS Group cut their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Barclays lowered their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $122.74.

ConocoPhillips Stock Performance

Shares of COP opened at $92.34 on Friday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $122.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock’s fifty day moving average price is $93.24 and its two-hundred day moving average price is $99.03. The firm 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.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period in the previous year, the business posted $2.05 EPS. On average, equities research 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 will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Monday, May 19th. ConocoPhillips’s payout ratio is currently 39.64%.

About ConocoPhillips

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.