First Financial Bankshares Inc Buys 6,439 Shares of ConocoPhillips $COP

First Financial Bankshares Inc lifted its stake in shares of ConocoPhillips (NYSE:COP) by 1.1% in the third quarter, according to its most recent filing with the SEC. 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 hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Howard Hughes Medical Institute purchased a new position in shares of ConocoPhillips in the 2nd quarter worth about $25,000. Cloud Capital Management LLC bought a new stake in ConocoPhillips in the 3rd quarter worth approximately $26,000. Cedar Mountain Advisors LLC lifted its position in ConocoPhillips by 58.0% in the 3rd quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock worth $30,000 after buying an additional 116 shares during the last quarter. BNP Paribas purchased a new stake in ConocoPhillips in the second quarter worth approximately $33,000. Finally, Bfsg LLC bought a new position in ConocoPhillips during the third quarter valued at approximately $36,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday. Mizuho lifted their target price on shares of ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. UBS Group restated a “buy” rating and set a $130.00 price target on shares of ConocoPhillips in a research report on Monday, February 9th. Raymond James Financial lifted their price objective on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, February 11th. Finally, Johnson Rice cut ConocoPhillips from an “accumulate” rating to a “hold” rating and dropped their target price for the company from $108.00 to $105.00 in a report on Friday, December 5th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.92.

ConocoPhillips Stock Performance

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

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The business had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.98 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Wednesday, February 18th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, February 18th. ConocoPhillips’s dividend payout ratio is currently 53.00%.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the sale, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by corporate insiders.

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.