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

Texas Bank & Trust Co acquired a new position in shares of ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,815 shares of the energy producer's stock, valued at approximately $775,000.

A number of other large investors have also made changes to their positions in COP. Orrstown Financial Services Inc. increased its holdings in shares of ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock valued at $331,000 after purchasing an additional 96 shares during the period. Principle Wealth Partners LLC increased its holdings in shares of ConocoPhillips by 0.3% in the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock valued at $3,695,000 after purchasing an additional 100 shares during the period. Arlington Trust Co LLC increased its position in ConocoPhillips by 1.2% during the fourth quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock worth $857,000 after acquiring an additional 102 shares during the period. Gray Wealth Management Inc. raised its stake in ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock valued at $215,000 after purchasing an additional 104 shares during the last quarter. Finally, Plancorp LLC raised its stake in ConocoPhillips by 2.7% during the 4th quarter. Plancorp LLC now owns 4,018 shares of the energy producer's stock valued at $399,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 2.8%

Shares of ConocoPhillips stock traded down $2.54 during trading on Wednesday, hitting $87.15. 8,624,526 shares of the company were exchanged, compared to its average volume of 7,358,932. The firm has a market capitalization of $110.17 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $119.72. The firm's fifty day moving average price is $92.96 and its 200 day moving average price is $98.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analyst estimates 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 company earned $2.05 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a $0.78 dividend. The ex-dividend date is Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.58%. ConocoPhillips's dividend payout ratio is presently 39.64%.

Analyst Ratings Changes

COP has been the subject of several research reports. Piper Sandler reduced their target price on ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Bank of America cut ConocoPhillips from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $138.00 to $107.00 in a research report on Tuesday, April 29th. Scotiabank cut their price objective on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a report on Thursday, January 30th. Finally, Raymond James lifted their price objective on ConocoPhillips from $103.00 to $109.00 and gave the company an "outperform" rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.95.

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.