Cullen Frost Bankers Inc. Raises Position in ConocoPhillips $COP

Cullen Frost Bankers Inc. raised its holdings in shares of ConocoPhillips (NYSE:COP) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234,928 shares of the energy producer’s stock after acquiring an additional 5,410 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in ConocoPhillips were worth $21,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after buying an additional 31,736,423 shares in the last quarter. Nuveen LLC purchased a new position in shares of ConocoPhillips during the 1st quarter valued at $658,981,000. AQR Capital Management LLC lifted its stake in shares of ConocoPhillips by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after buying an additional 3,058,505 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after buying an additional 2,080,625 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of ConocoPhillips by 53.8% during the 1st quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock valued at $550,334,000 after buying an additional 1,834,118 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.8%

COP stock opened at $86.39 on Wednesday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The stock has a market capitalization of $107.90 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.30 and a beta of 0.62. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The firm’s fifty day simple moving average is $93.75 and its two-hundred day simple moving average is $91.88.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.98 EPS. As a group, analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.6%. ConocoPhillips’s dividend payout ratio is currently 41.88%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Wall Street Zen cut shares of ConocoPhillips from a “hold” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. lifted their target price on shares of ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a report on Wednesday, October 8th. Finally, UBS Group reduced their price target on shares of ConocoPhillips from $124.00 to $122.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Eighteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.63.

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.