Skba Capital Management LLC Reduces Stock Position in ConocoPhillips (NYSE:COP)

Skba Capital Management LLC decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,195 shares of the energy producer’s stock after selling 5,300 shares during the quarter. ConocoPhillips makes up 2.4% of Skba Capital Management LLC’s holdings, making the stock its 10th biggest position. Skba Capital Management LLC’s holdings in ConocoPhillips were worth $15,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bridgewater Associates LP lifted its position in ConocoPhillips by 58.9% during the third quarter. Bridgewater Associates LP now owns 3,079 shares of the energy producer’s stock worth $324,000 after acquiring an additional 1,141 shares during the last quarter. Semmax Financial Advisors Inc. lifted its holdings in ConocoPhillips by 10.9% during the 3rd quarter. Semmax Financial Advisors Inc. now owns 10,851 shares of the energy producer’s stock worth $1,209,000 after purchasing an additional 1,070 shares during the last quarter. True Wealth Design LLC boosted its stake in ConocoPhillips by 89.3% in the 3rd quarter. True Wealth Design LLC now owns 653 shares of the energy producer’s stock valued at $69,000 after purchasing an additional 308 shares during the period. Erste Asset Management GmbH acquired a new position in ConocoPhillips in the 3rd quarter valued at $7,017,000. Finally, FSA Wealth Management LLC bought a new position in ConocoPhillips during the 3rd quarter worth $108,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

NYSE COP opened at $102.37 on Monday. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. The stock has a market cap of $130.26 billion, a PE ratio of 13.14, a PEG ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The firm’s fifty day moving average price is $98.95 and its two-hundred day moving average price is $103.28.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) 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%. On average, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Piper Sandler decreased their price target on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. 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 report on Monday, December 16th. Wells Fargo & Company cut their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Morgan Stanley lowered their price objective on ConocoPhillips from $131.00 to $126.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, UBS Group cut their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. 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. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $132.95.

ConocoPhillips 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.