First Financial Bankshares Inc Purchases 7,104 Shares of ConocoPhillips (NYSE:COP)

First Financial Bankshares Inc lifted its position in ConocoPhillips (NYSE:COP - Free Report) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 557,149 shares of the energy producer's stock after acquiring an additional 7,104 shares during the period. ConocoPhillips makes up approximately 1.2% of First Financial Bankshares Inc's holdings, making the stock its 28th biggest holding. First Financial Bankshares Inc's holdings in ConocoPhillips were worth $55,252,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC raised its holdings in ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer's stock worth $10,902,000 after buying an additional 31,011 shares during the period. Leavell Investment Management Inc. raised its holdings in ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock worth $1,901,000 after buying an additional 7,174 shares during the period. Brookstone Capital Management raised its holdings in ConocoPhillips by 4.5% during the 4th quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock worth $878,000 after buying an additional 383 shares during the period. Prospera Financial Services Inc raised its holdings in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer's stock worth $7,488,000 after buying an additional 13,595 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in ConocoPhillips by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer's stock worth $262,094,000 after buying an additional 46,621 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

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ConocoPhillips Stock Performance

COP stock traded down $0.26 during midday trading on Friday, reaching $102.05. 55,090,100 shares of the company were exchanged, compared to its average volume of 6,433,374. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The business has a 50-day moving average price of $99.21 and a two-hundred day moving average price of $103.40. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The firm has a market capitalization of $129.84 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates 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 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Friday, February 14th. ConocoPhillips's dividend payout ratio is currently 40.05%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research note on Thursday, January 30th. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a "buy" rating and a $125.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Piper Sandler decreased their price target 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. Finally, Barclays decreased 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. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $133.05.

ConocoPhillips Company 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.