Folger Nolan Fleming Douglas Capital Management Inc. Has $548,000 Stock Position in ConocoPhillips (NYSE:COP)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its stake in ConocoPhillips (NYSE:COP) by 5.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,214 shares of the energy producer’s stock after selling 273 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in ConocoPhillips were worth $548,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of COP. Vanguard Group Inc. boosted its holdings in ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Invesco Ltd. boosted its holdings in ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares during the period. Geode Capital Management LLC boosted its holdings in ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares during the period. Finally, Northern Trust Corp boosted its holdings in ConocoPhillips by 27.6% in the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock valued at $1,364,364,000 after purchasing an additional 2,971,661 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.4%

COP opened at $94.70 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average of $88.62 and a 200-day moving average of $96.02. The stock has a market cap of $119.72 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The company had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. During the same period in the prior year, the company posted $2.05 earnings per share. On average, sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on COP. Raymond James reaffirmed an “outperform” rating and set a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Morgan Stanley upped their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Bank of America cut their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Piper Sandler cut their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Finally, Citigroup cut their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.30.

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.