Texas Capital Bank Wealth Management Services Inc Decreases Position in ConocoPhillips $COP

Key Points

• Texas Capital Bank Wealth Management Services cut its ConocoPhillips stake by 66.9% in the fourth quarter, leaving it with 20,924 shares valued at about $1.96 million.
• Wall Street sentiment remains mostly positive: several analysts raised price targets, and ConocoPhillips currently has an average rating of “Moderate Buy” with an average price target of $134.60.
• The company reported Q1 EPS of $1.89, topping estimates, and also announced a quarterly dividend of $0.84 per share, or $3.36 annually, for a 2.9% yield.

Texas Capital Bank Wealth Management Services Inc reduced its stake in ConocoPhillips (NYSE:COP - Free Report) by 66.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,924 shares of the energy producer's stock after selling 42,215 shares during the period. Texas Capital Bank Wealth Management Services Inc's holdings in ConocoPhillips were worth $1,959,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of ConocoPhillips by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer's stock worth $220,506,000 after buying an additional 298,245 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of ConocoPhillips by 8.7% during the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer's stock worth $188,842,000 after buying an additional 160,410 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of ConocoPhillips by 107.5% during the 3rd quarter. AE Wealth Management LLC now owns 103,430 shares of the energy producer's stock worth $9,783,000 after buying an additional 53,587 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of ConocoPhillips by 31.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer's stock worth $8,067,000 after buying an additional 20,501 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda purchased a new stake in ConocoPhillips in the third quarter valued at approximately $1,892,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COP. The Goldman Sachs Group boosted their price objective on ConocoPhillips from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, February 6th. Barclays boosted their price objective on ConocoPhillips from $136.00 to $155.00 and gave the company an "overweight" rating in a research note on Tuesday. Royal Bank Of Canada boosted their price objective on ConocoPhillips from $118.00 to $152.00 and gave the company an "outperform" rating in a research note on Wednesday, April 8th. UBS Group boosted their price objective on ConocoPhillips from $130.00 to $144.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Finally, Roth Mkm cut ConocoPhillips from a "buy" rating to a "neutral" rating and set a $112.00 price objective for the company. in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and an average price target of $134.60.

ConocoPhillips Trading Down 1.2%

NYSE:COP opened at $115.15 on Thursday. The firm has a market cap of $140.28 billion, a P/E ratio of 19.55, a PEG ratio of 1.31 and a beta of 0.14. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock's 50 day simple moving average is $123.45 and its 200-day simple moving average is $108.23. ConocoPhillips has a 12-month low of $84.28 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 earnings per share. Equities analysts anticipate that ConocoPhillips will post 9.92 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips's payout ratio is presently 57.05%.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Mizuho raised its price target on ConocoPhillips to $150 from $136 and reiterated an outperform rating, implying meaningful upside versus the current share price. Mizuho raises price target on ConocoPhillips
• Positive Sentiment: Morgan Stanley also increased its price target on COP, reinforcing the view that Wall Street sees room for more gains. ConocoPhillips price target raised by Morgan Stanley
• Positive Sentiment: Oil prices moved higher as renewed US-Iran tensions clouded the outlook for a smooth deal around the Strait of Hormuz, which can improve the revenue outlook for upstream producers like ConocoPhillips. Oil climbs as US-Iran clashes muddy outlook for peace deal
• Positive Sentiment: Analysts highlighted ConocoPhillips’ LNG strategy, including Port Arthur and Equatorial Guinea projects, as a longer-term free-cash-flow driver that could support valuation over time. ConocoPhillips LNG strategy emerges as key long-term growth driver
• Neutral Sentiment: Zacks published a value-stock writeup on COP, framing it as an attractive long-term investment, but it appears more educational than a new company-specific catalyst. Why ConocoPhillips is a top value stock for the long term
• Neutral Sentiment: Reports that ConocoPhillips may seek safeguards to return to Venezuela point to potential future upside, but the outcome remains uncertain and speculative. Exxon, ConocoPhillips seek safeguards to return to Venezuela

Insiders Place Their Bets

In other news, SVP Kelly Brunetti Rose sold 8,500 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $118.04, for a total value of $1,003,340.00. Following the transaction, the senior vice president owned 32,984 shares of the company's stock, valued at approximately $3,893,431.36. The trade was a 20.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas G. Olds sold 14,522 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total value of $1,733,345.92. Following the completion of the transaction, the executive vice president directly owned 12,389 shares in the company, valued at approximately $1,478,751.04. The trade was a 53.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is owned by company insiders.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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