Skba Capital Management LLC Trims Stake in ConocoPhillips (NYSE:COP)

Skba Capital Management LLC decreased its position in shares of ConocoPhillips (NYSE:COP) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 152,195 shares of the energy producer’s stock after selling 5,300 shares during the quarter. ConocoPhillips comprises approximately 2.4% of Skba Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Skba Capital Management LLC’s holdings in ConocoPhillips were worth $15,093,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COP. JPMorgan Chase & Co. lowered their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. TD Cowen assumed coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Evercore ISI reissued an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research note on Thursday, January 30th. Finally, Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $132.95.

ConocoPhillips Trading Down 0.4 %

NYSE COP opened at $102.37 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $98.95 and a 200 day simple moving average of $103.28. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The firm has a market capitalization of $130.26 billion, a P/E ratio of 13.14, a PEG ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

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.