ConocoPhillips (NYSE:COP) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 409,116 shares of the energy producer's stock after selling 20,637 shares during the quarter. Gateway Investment Advisers LLC's holdings in ConocoPhillips were worth $42,965,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips during the fourth quarter worth $26,000. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter worth $27,000. 10Elms LLP bought a new position in shares of ConocoPhillips during the fourth quarter worth $28,000. Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips during the fourth quarter worth $32,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of ConocoPhillips during the fourth quarter worth $36,000. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Up 2.1%

COP stock traded up $1.83 during trading on Friday, hitting $87.18. The company had a trading volume of 6,040,860 shares, compared to its average volume of 7,395,065. The firm has a market capitalization of $110.21 billion, a P/E ratio of 11.19, a PEG ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. The company has a 50 day simple moving average of $88.74 and a 200-day simple moving average of $96.54. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same quarter last year, the firm posted $2.05 EPS. As a group, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Mizuho lowered their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Susquehanna lowered their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research report on Monday, May 12th. Morgan Stanley increased their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Scotiabank lowered their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Finally, Bank of America lowered their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $121.63.

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.