Texas Capital Bancshares Inc TX Sells 776 Shares of ConocoPhillips (NYSE:COP)

Texas Capital Bancshares Inc TX cut its holdings in ConocoPhillips (NYSE:COP) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,002 shares of the energy producer’s stock after selling 776 shares during the period. ConocoPhillips comprises approximately 0.4% of Texas Capital Bancshares Inc TX’s portfolio, making the stock its 27th largest holding. Texas Capital Bancshares Inc TX’s holdings in ConocoPhillips were worth $992,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Albion Financial Group UT increased its position in shares of ConocoPhillips by 876.9% in the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips during the 4th quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in ConocoPhillips during the 4th quarter valued at approximately $27,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the 4th quarter worth approximately $32,000. Finally, Global Wealth Strategies & Associates grew its position in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock opened at $83.11 on Friday. The company has a market capitalization of $105.06 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. 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 has a one year low of $79.88 and a one year high of $135.18. The company’s 50-day moving average is $96.80 and its 200 day moving average is $102.17.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. UBS Group decreased their target price on ConocoPhillips from $130.00 to $116.00 and set a “buy” rating for the company in a report on Monday. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Raymond James cut shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $157.00 to $124.00 in a research report on Monday, February 10th. 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 cut their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Two investment 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 company’s stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $131.84.

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.