Gateway Wealth Partners LLC Invests $1.38 Million in ConocoPhillips $COP

Key Points

• Gateway Wealth Partners bought 10,451 ConocoPhillips shares worth approximately $1.38 million during the first quarter. Institutional investors and hedge funds collectively own 82.36% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $134.16, despite several firms recently lowering their targets.
• ConocoPhillips beat quarterly earnings expectations with $1.89 in EPS versus $1.72 estimated, although revenue declined 6.1% year over year. The company pays a quarterly dividend of $0.84, implying a 2.9% annualized yield.

Gateway Wealth Partners LLC purchased a new stake in ConocoPhillips (NYSE:COP - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,451 shares of the energy producer's stock, valued at approximately $1,380,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Weiss Asset Management LP purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $11,128,000. Cypress Capital Group increased its stake in ConocoPhillips by 5.5% in the 1st quarter. Cypress Capital Group now owns 16,646 shares of the energy producer's stock valued at $2,197,000 after purchasing an additional 873 shares in the last quarter. OMERS ADMINISTRATION Corp increased its stake in ConocoPhillips by 23.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 68,400 shares of the energy producer's stock valued at $9,029,000 after purchasing an additional 13,183 shares in the last quarter. Lombard Odier Asset Management Switzerland SA raised its holdings in ConocoPhillips by 16.9% during the first quarter. Lombard Odier Asset Management Switzerland SA now owns 24,200 shares of the energy producer's stock worth $3,194,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Waverly Advisors LLC raised its holdings in ConocoPhillips by 16.9% during the first quarter. Waverly Advisors LLC now owns 64,690 shares of the energy producer's stock worth $8,539,000 after purchasing an additional 9,368 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley lowered their target price on ConocoPhillips from $153.00 to $146.00 and set an "overweight" rating on the stock in a report on Friday, June 26th. Freedom Capital lowered shares of ConocoPhillips from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 6th. BMO Capital Markets decreased their price objective on shares of ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Capital One Financial lowered their price objective on shares of ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating on the stock in a research note on Monday, May 18th. Finally, Scotiabank raised their target price on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $134.16.

ConocoPhillips Stock Down 1.3%

Shares of NYSE COP opened at $114.07 on Wednesday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The firm's 50 day moving average price is $113.10 and its 200 day moving average price is $114.60. The firm has a market cap of $138.97 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 1.40 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips's revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.09 EPS. As a group, sell-side analysts anticipate that ConocoPhillips will post 9.2 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips's payout ratio is currently 57.05%.

ConocoPhillips Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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