Gateway Investment Advisers LLC Has $42.62 Million Stock Position in ConocoPhillips (NYSE:COP)

Gateway Investment Advisers LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 429,753 shares of the energy producer’s stock after selling 16,529 shares during the period. Gateway Investment Advisers LLC’s holdings in ConocoPhillips were worth $42,619,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after buying an additional 31,011 shares during the period. Alpha DNA Investment Management LLC raised its holdings in ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after purchasing an additional 7,490 shares during the last quarter. Prospera Financial Services Inc boosted its stake in shares of ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after purchasing an additional 13,595 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after buying an additional 46,621 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after acquiring an additional 4,504,653 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded up $0.37 during mid-day trading on Thursday, hitting $105.85. 232,301 shares of the stock were exchanged, compared to its average volume of 5,087,728. The company has a market capitalization of $121.82 billion, a P/E ratio of 12.59, a P/E/G ratio of 0.81 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a 50-day simple moving average of $104.21 and a 200 day simple moving average of $107.56. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the firm earned $2.16 earnings per share. The business’s revenue was down 8.5% on a year-over-year basis. Sell-side analysts anticipate that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.95%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Scotiabank dropped their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets increased their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Finally, Susquehanna raised their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $136.65.

Insider Buying and Selling

In other news, Director Arjun N. Murti purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

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.