Gateway Investment Advisers LLC Trims Stock Holdings in ConocoPhillips (NYSE:COP)

Gateway Investment Advisers LLC decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 3.7% during the fourth quarter, HoldingsChannel reports. The fund owned 429,753 shares of the energy producer’s stock after selling 16,529 shares during the quarter. Gateway Investment Advisers LLC’s holdings in ConocoPhillips were worth $42,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $26,000. Reston Wealth Management LLC purchased a new position in ConocoPhillips during the 3rd quarter valued at about $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips during the third quarter valued at about $31,000. Global Wealth Strategies & Associates lifted its holdings in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of ConocoPhillips in the third quarter valued at approximately $35,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 0.4 %

Shares of COP stock traded up $0.37 on Thursday, hitting $105.85. 232,301 shares of the company’s stock traded hands, compared to its average volume of 5,087,728. The stock has a market capitalization of $121.82 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 0.81 and a beta of 1.19. The company’s fifty day simple moving average is $104.21 and its 200 day simple moving average is $107.56. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The company’s revenue was down 8.5% on a year-over-year basis. Equities analysts forecast that ConocoPhillips will post 7.7 EPS for the current year.

ConocoPhillips Increases Dividend

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

Insider Activity

In other news, Director R A. Walker purchased 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COP. Morgan Stanley assumed coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Wells Fargo & Company dropped their price objective on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $136.65.

About ConocoPhillips

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.