First Financial Bankshares Inc Has $55.25 Million Stake in ConocoPhillips (NYSE:COP)

First Financial Bankshares Inc lifted its stake in shares of ConocoPhillips (NYSE:COP) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 557,149 shares of the energy producer’s stock after purchasing an additional 7,104 shares during the period. ConocoPhillips makes up about 1.2% of First Financial Bankshares Inc’s investment portfolio, making the stock its 28th biggest position. First Financial Bankshares Inc’s holdings in ConocoPhillips were worth $55,252,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Claro Advisors LLC raised its stake in shares of ConocoPhillips by 23.5% during the third quarter. Claro Advisors LLC now owns 4,215 shares of the energy producer’s stock worth $444,000 after buying an additional 803 shares during the last quarter. Cassaday & Co Wealth Management LLC raised its stake in shares of ConocoPhillips by 6.3% during the third quarter. Cassaday & Co Wealth Management LLC now owns 4,328 shares of the energy producer’s stock worth $456,000 after buying an additional 255 shares during the last quarter. OneAscent Wealth Management LLC raised its stake in shares of ConocoPhillips by 22.7% during the third quarter. OneAscent Wealth Management LLC now owns 3,694 shares of the energy producer’s stock worth $389,000 after buying an additional 683 shares during the last quarter. Aviance Capital Partners LLC raised its stake in shares of ConocoPhillips by 7.8% during the third quarter. Aviance Capital Partners LLC now owns 22,734 shares of the energy producer’s stock worth $2,393,000 after buying an additional 1,644 shares during the last quarter. Finally, Smead Capital Management Inc. raised its stake in shares of ConocoPhillips by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,196,884 shares of the energy producer’s stock worth $231,288,000 after buying an additional 74,045 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays dropped their price target on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research note on Thursday, January 30th. Finally, Piper Sandler lowered their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $133.05.

ConocoPhillips Stock Performance

Shares of COP stock opened at $100.51 on Wednesday. The company has a market capitalization of $127.88 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The company has a 50-day simple moving average of $99.19 and a 200 day simple moving average of $103.56. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

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.