First Financial Bankshares Inc Raises Position in ConocoPhillips $COP

First Financial Bankshares Inc raised its position in shares of ConocoPhillips (NYSE:COP) by 1.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 589,727 shares of the energy producer’s stock after acquiring an additional 6,439 shares during the period. First Financial Bankshares Inc’s holdings in ConocoPhillips were worth $55,782,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of ConocoPhillips by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock valued at $3,623,946,000 after purchasing an additional 287,970 shares during the period. Fisher Asset Management LLC lifted its position in ConocoPhillips by 1.6% during the second quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock valued at $1,291,706,000 after buying an additional 224,201 shares during the period. Ameriprise Financial Inc. lifted its position in ConocoPhillips by 31.4% during the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock valued at $966,267,000 after buying an additional 2,575,803 shares during the period. Primecap Management Co. CA boosted its holdings in shares of ConocoPhillips by 66.0% during the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after buying an additional 3,135,315 shares in the last quarter. Finally, Boston Partners grew its position in shares of ConocoPhillips by 4.0% in the 2nd quarter. Boston Partners now owns 6,424,232 shares of the energy producer’s stock worth $577,471,000 after buying an additional 244,810 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COP. The Goldman Sachs Group boosted their price objective on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. lifted their target price on shares of ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a report on Friday, February 6th. Jefferies Financial Group boosted their price target on ConocoPhillips from $120.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday. BMO Capital Markets raised their price objective on ConocoPhillips from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Finally, Sanford C. Bernstein lowered their price objective on ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.92.

Insiders Place Their Bets

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the transaction, the chief executive officer owned 325,972 shares in the company, valued at approximately $30,152,410. This represents a 60.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.24% of the company’s stock.

ConocoPhillips Stock Performance

COP stock opened at $109.82 on Tuesday. The stock’s 50 day simple moving average is $100.21 and its 200 day simple moving average is $94.91. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $113.80. The stock has a market capitalization of $135.71 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 2.81 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The business had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.35 billion. During the same period in the previous year, the business posted $1.98 EPS. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, research analysts forecast 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, March 2nd. Investors of record on Wednesday, February 18th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, February 18th. ConocoPhillips’s dividend payout ratio (DPR) is presently 53.00%.

ConocoPhillips 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.