First Financial Bankshares Inc Has $57.91 Million Stock Holdings in ConocoPhillips (NYSE:COP)

First Financial Bankshares Inc lifted its stake in shares of ConocoPhillips (NYSE:COP) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 550,045 shares of the energy producer’s stock after buying an additional 4,603 shares during the period. First Financial Bankshares Inc’s holdings in ConocoPhillips were worth $57,909,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. First Trust Direct Indexing L.P. raised its position in ConocoPhillips by 5.6% in the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after purchasing an additional 1,390 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in ConocoPhillips in the second quarter valued at about $30,021,000. EP Wealth Advisors LLC raised its position in ConocoPhillips by 19.1% in the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after purchasing an additional 4,578 shares during the last quarter. Norden Group LLC raised its position in ConocoPhillips by 2,634.9% in the first quarter. Norden Group LLC now owns 124,440 shares of the energy producer’s stock valued at $15,838,000 after purchasing an additional 119,890 shares during the last quarter. Finally, Alpha DNA Investment Management LLC raised its position in ConocoPhillips by 83.8% in the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after purchasing an additional 7,490 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

COP opened at $104.56 on Monday. The stock has a 50-day moving average price of $108.47 and a 200-day moving average price of $113.68. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $122.29 billion, a P/E ratio of 11.84, a PEG ratio of 0.84 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 EPS. Equities analysts predict that ConocoPhillips will post 7.95 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Sanford C. Bernstein lowered their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Mizuho lowered their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. UBS Group lowered their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Susquehanna lowered their target price on ConocoPhillips from $147.00 to $144.00 and set a “positive” rating for the company in a report on Friday, October 18th. Six equities research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.94.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now owns 455,909 shares in the company, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate 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.