596,736 Shares in ConocoPhillips (NYSE:COP) Purchased by First Financial Bankshares Inc

First Financial Bankshares Inc bought a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 596,736 shares of the energy producer’s stock, valued at approximately $69,263,000. ConocoPhillips comprises 1.7% of First Financial Bankshares Inc’s portfolio, making the stock its 16th largest holding. First Financial Bankshares Inc owned about 0.05% of ConocoPhillips at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Putnam Investments LLC grew its position in ConocoPhillips by 3.6% in the 4th quarter. Putnam Investments LLC now owns 6,079,041 shares of the energy producer’s stock worth $705,594,000 after purchasing an additional 211,257 shares in the last quarter. Jacobi Capital Management LLC grew its position in shares of ConocoPhillips by 2.6% during the 4th quarter. Jacobi Capital Management LLC now owns 22,423 shares of the energy producer’s stock valued at $2,603,000 after acquiring an additional 566 shares during the period. BOKF NA grew its position in shares of ConocoPhillips by 6.5% during the 4th quarter. BOKF NA now owns 201,288 shares of the energy producer’s stock valued at $23,363,000 after acquiring an additional 12,356 shares during the period. Vista Investment Management grew its position in shares of ConocoPhillips by 5.3% during the 4th quarter. Vista Investment Management now owns 7,193 shares of the energy producer’s stock valued at $835,000 after acquiring an additional 359 shares during the period. Finally, Icon Wealth Advisors LLC bought a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $1,122,000. 82.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

COP has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Scotiabank raised their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a report on Friday. UBS Group raised their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $144.35.

Insider Activity

In other news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at approximately $1,836,161.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now owns 14,522 shares in the company, valued at approximately $1,836,161.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders sold a total of 664,350 shares of company stock worth $83,537,680 in the last quarter. 0.34% of the stock is owned by company insiders.

ConocoPhillips Price Performance

Shares of NYSE COP traded up $0.10 during mid-day trading on Tuesday, reaching $113.40. 2,091,400 shares of the company were exchanged, compared to its average volume of 5,449,013. The company’s 50 day moving average price is $123.60 and its 200 day moving average price is $117.74. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18. The stock has a market capitalization of $132.62 billion, a PE ratio of 12.83, a PEG ratio of 2.51 and a beta of 1.23. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. Sell-side analysts forecast that ConocoPhillips will post 8.93 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is presently 26.27%.

ConocoPhillips Company Profile

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.