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

Gateway Wealth Partners LLC bought a new position in ConocoPhillips (NYSE:COP) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 10,451 shares of the energy producer’s stock, valued at approximately $1,380,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips during the fourth quarter worth approximately $25,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Frazier Financial Advisors LLC boosted its holdings in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. BNP Paribas acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at $33,000. Finally, Optima Capital LLC purchased a new stake in shares of ConocoPhillips during the 4th quarter valued at $34,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $114.07 on Wednesday. The firm has a fifty day moving average of $113.10 and a 200-day moving average of $114.60. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $138.97 billion, a P/E ratio of 19.37, a PEG ratio of 1.40 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last posted its 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. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the business posted $2.09 EPS. The business’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, analysts predict that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 annualized dividend and a yield of 2.9%. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on COP shares. Capital One Financial dropped their price objective on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Royal Bank Of Canada set a $130.00 target price on ConocoPhillips in a report on Monday, June 22nd. The Goldman Sachs Group lowered their price target on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Morgan Stanley dropped their price target on ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Finally, Sanford C. Bernstein raised their price objective on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.16.

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.