Skba Capital Management LLC Sells 5,750 Shares of ConocoPhillips (NYSE:COP)

Skba Capital Management LLC lowered its stake in shares of ConocoPhillips (NYSE:COPFree Report) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,775 shares of the energy producer’s stock after selling 5,750 shares during the quarter. ConocoPhillips accounts for about 4.1% of Skba Capital Management LLC’s portfolio, making the stock its largest position. Skba Capital Management LLC’s holdings in ConocoPhillips were worth $22,016,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of COP. Norris Perne & French LLP MI increased its position in shares of ConocoPhillips by 1.9% in the 3rd quarter. Norris Perne & French LLP MI now owns 4,364 shares of the energy producer’s stock worth $523,000 after purchasing an additional 80 shares during the last quarter. Sloy Dahl & Holst LLC grew its position in shares of ConocoPhillips by 3.3% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 2,629 shares of the energy producer’s stock valued at $315,000 after buying an additional 85 shares during the last quarter. Tevis Investment Management grew its position in shares of ConocoPhillips by 2.7% during the 2nd quarter. Tevis Investment Management now owns 3,294 shares of the energy producer’s stock valued at $341,000 after buying an additional 87 shares during the last quarter. Mascoma Wealth Management LLC grew its position in shares of ConocoPhillips by 35.9% during the 3rd quarter. Mascoma Wealth Management LLC now owns 333 shares of the energy producer’s stock valued at $40,000 after buying an additional 88 shares during the last quarter. Finally, CRA Financial Services LLC grew its position in shares of ConocoPhillips by 1.9% during the 3rd quarter. CRA Financial Services LLC now owns 4,702 shares of the energy producer’s stock valued at $563,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock traded down $0.02 on Monday, hitting $111.14. 1,233,753 shares of the company’s stock traded hands, compared to its average volume of 5,217,103. ConocoPhillips has a 1-year low of $91.53 and a 1-year high of $127.35. The stock has a market cap of $131.97 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 0.65 and a beta of 1.24. The stock has a fifty day moving average of $113.10 and a 200-day moving average of $116.55. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COPGet Free Report) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same period in the prior year, the business earned $2.71 earnings per share. On average, analysts forecast that ConocoPhillips will post 9.45 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Monday, February 19th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.81%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 25.61%.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent research reports. UBS Group lowered their price objective on shares of ConocoPhillips from $149.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Susquehanna decreased their target price on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research report on Friday, January 26th. Johnson Rice cut shares of ConocoPhillips from an “accumulate” rating to a “hold” rating in a research report on Thursday, December 14th. Scotiabank upped their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Royal Bank of Canada upped their target price on shares of ConocoPhillips from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 14th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.33.

Read Our Latest Report on ConocoPhillips

ConocoPhillips Profile

(Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's 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 global exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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