Cullen Frost Bankers Inc. Has $4.07 Million Stake in ConocoPhillips (NYSE:COP)

Cullen Frost Bankers Inc. increased its stake in shares of ConocoPhillips (NYSE:COP) by 3.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 62,625 shares of the energy producer’s stock after acquiring an additional 2,096 shares during the period. Cullen Frost Bankers Inc.’s holdings in ConocoPhillips were worth $4,073,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of COP. Haverford Trust Co. lifted its position in shares of ConocoPhillips by 0.4% during the 3rd quarter. Haverford Trust Co. now owns 44,783 shares of the energy producer’s stock worth $2,552,000 after buying an additional 175 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of ConocoPhillips by 5.0% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,710 shares of the energy producer’s stock worth $241,000 after buying an additional 175 shares during the period. Stevens Capital Management LP lifted its position in shares of ConocoPhillips by 1.3% during the 4th quarter. Stevens Capital Management LP now owns 13,311 shares of the energy producer’s stock worth $866,000 after buying an additional 176 shares during the period. Beacon Investment Advisory Services Inc. lifted its position in shares of ConocoPhillips by 2.6% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 7,078 shares of the energy producer’s stock worth $460,000 after buying an additional 178 shares during the period. Finally, AllSquare Wealth Management LLC lifted its position in shares of ConocoPhillips by 32.7% during the 3rd quarter. AllSquare Wealth Management LLC now owns 742 shares of the energy producer’s stock worth $42,000 after buying an additional 183 shares during the period. 71.50% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently commented on the company. Wells Fargo & Co restated a “buy” rating on shares of ConocoPhillips in a research report on Tuesday, November 19th. Piper Jaffray Companies assumed coverage on ConocoPhillips in a research report on Tuesday, November 26th. They set a “buy” rating and a $74.00 target price for the company. UBS Group raised their target price on ConocoPhillips from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Capital One Financial assumed coverage on ConocoPhillips in a research report on Tuesday. They set an “overweight” rating and a $70.00 target price for the company. Finally, MKM Partners assumed coverage on ConocoPhillips in a research report on Thursday, December 5th. They set a “buy” rating and a $72.00 target price for the company. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. ConocoPhillips currently has an average rating of “Buy” and an average price target of $74.38.

In other ConocoPhillips news, President William L. Jr. Bullock sold 25,628 shares of ConocoPhillips stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $63.17, for a total value of $1,618,920.76. Following the completion of the transaction, the president now owns 32,926 shares in the company, valued at approximately $2,079,935.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Shares of COP opened at $58.62 on Friday. The stock has a fifty day moving average price of $62.80 and a two-hundred day moving average price of $58.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.26 and a current ratio of 2.40. ConocoPhillips has a 52-week low of $50.13 and a 52-week high of $71.01. The company has a market cap of $64.32 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 2.96 and a beta of 1.11.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Tuesday, February 4th. The energy producer reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.05). ConocoPhillips had a net margin of 19.60% and a return on equity of 11.84%. The business had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $7.83 billion. During the same quarter in the previous year, the firm posted $1.13 EPS. As a group, research analysts predict that ConocoPhillips will post 3.32 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 14th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.68 annualized dividend and a yield of 2.87%. ConocoPhillips’s payout ratio is 46.80%.

ConocoPhillips announced that its board has approved a stock buyback plan on Tuesday, February 4th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the energy producer to purchase up to 15.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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