ConocoPhillips $COP Shares Sold by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 66.9% during the fourth quarter, HoldingsChannel reports. The fund owned 20,924 shares of the energy producer’s stock after selling 42,215 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in ConocoPhillips were worth $1,959,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Duncan Williams Asset Management LLC grew its holdings in ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after acquiring an additional 100 shares during the period. Wedge Capital Management L L P NC grew its holdings in ConocoPhillips by 4.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after acquiring an additional 101 shares during the period. Strategic Blueprint LLC grew its holdings in ConocoPhillips by 1.3% during the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after acquiring an additional 101 shares during the period. Chesapeake Wealth Management grew its holdings in ConocoPhillips by 1.5% during the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock worth $670,000 after acquiring an additional 103 shares during the period. Finally, Oregon Pacific Wealth Management LLC grew its holdings in ConocoPhillips by 4.5% during the fourth quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock worth $226,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.2%

COP opened at $115.15 on Thursday. The business’s fifty day moving average is $123.45 and its two-hundred day moving average is $108.23. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The company has a market cap of $140.28 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.31 and a beta of 0.14. ConocoPhillips has a one year low of $84.28 and a one year high of $135.87.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 earnings per share. Analysts anticipate that ConocoPhillips will post 9.92 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s payout ratio is presently 57.05%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Nicholas G. Olds sold 6,994 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total transaction of $888,657.64. Following the sale, the executive vice president directly owned 5,395 shares in the company, valued at approximately $685,488.70. The trade was a 56.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the sale, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. This represents a 23.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 734,891 shares of company stock valued at $93,345,692 in the last 90 days. 0.09% of the stock is owned by corporate insiders.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Mizuho raised its price target on ConocoPhillips to $150 from $136 and reiterated an outperform rating, implying meaningful upside versus the current share price. Mizuho raises price target on ConocoPhillips
• Positive Sentiment: Morgan Stanley also increased its price target on COP, reinforcing the view that Wall Street sees room for more gains. ConocoPhillips price target raised by Morgan Stanley
• Positive Sentiment: Oil prices moved higher as renewed US-Iran tensions clouded the outlook for a smooth deal around the Strait of Hormuz, which can improve the revenue outlook for upstream producers like ConocoPhillips. Oil climbs as US-Iran clashes muddy outlook for peace deal
• Positive Sentiment: Analysts highlighted ConocoPhillips’ LNG strategy, including Port Arthur and Equatorial Guinea projects, as a longer-term free-cash-flow driver that could support valuation over time. ConocoPhillips LNG strategy emerges as key long-term growth driver
• Neutral Sentiment: Zacks published a value-stock writeup on COP, framing it as an attractive long-term investment, but it appears more educational than a new company-specific catalyst. Why ConocoPhillips is a top value stock for the long term
• Neutral Sentiment: Reports that ConocoPhillips may seek safeguards to return to Venezuela point to potential future upside, but the outcome remains uncertain and speculative. Exxon, ConocoPhillips seek safeguards to return to Venezuela

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COP. BMO Capital Markets dropped their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Sanford C. Bernstein upped their price objective on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Wells Fargo & Company upped their price objective on ConocoPhillips from $132.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Argus upped their price objective on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $134.60.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.