Texas Capital Bancshares Inc TX Has $992,000 Position in ConocoPhillips (NYSE:COP)

Texas Capital Bancshares Inc TX trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 7.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,002 shares of the energy producer’s stock after selling 776 shares during the period. ConocoPhillips makes up 0.4% of Texas Capital Bancshares Inc TX’s investment portfolio, making the stock its 27th largest holding. Texas Capital Bancshares Inc TX’s holdings in ConocoPhillips were worth $992,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. Vanguard Group Inc. lifted its stake in shares of ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after buying an additional 12,751,120 shares in the last quarter. Invesco Ltd. lifted its position in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after acquiring an additional 4,211,939 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in ConocoPhillips by 401.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after purchasing an additional 3,541,504 shares during the last quarter. Geode Capital Management LLC increased its holdings in ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of ConocoPhillips in the fourth quarter worth approximately $232,859,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Down 9.2 %

ConocoPhillips stock opened at $83.11 on Friday. The stock has a market cap of $105.06 billion, a P/E ratio of 10.67, a PEG ratio of 0.79 and a beta of 0.83. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $135.18. The firm’s fifty day moving average price is $96.80 and its 200-day moving average price is $102.17. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.75%. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Analysts Set New Price Targets

A number of brokerages recently commented on COP. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Truist Financial lifted their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Piper Sandler reduced their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Barclays lowered their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, UBS Group reduced their target price on shares of ConocoPhillips from $130.00 to $116.00 and set a “buy” rating for the company in a research report on Monday. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $131.84.

ConocoPhillips 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.