ConocoPhillips (NYSE:COP) to Issue Quarterly Dividend of $0.78

ConocoPhillips (NYSE:COPGet Free Report) announced a quarterly dividend on Thursday, February 8th, Zacks reports. Stockholders of record on Monday, February 19th will be given a dividend of 0.78 per share by the energy producer on Friday, March 1st. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58.

ConocoPhillips has raised its dividend payment by an average of 7.7% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. ConocoPhillips has a payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ConocoPhillips to earn $9.45 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 24.6%.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $113.90 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $135.25 billion, a PE ratio of 12.45, a P/E/G ratio of 0.65 and a beta of 1.24. The firm has a fifty day simple moving average of $113.18 and a two-hundred day simple moving average of $116.58. ConocoPhillips has a twelve month low of $91.53 and a twelve month high of $127.35.

Wall Street Analyst Weigh In

COP has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a research note on Friday, December 8th. UBS Group lowered their price target on shares of ConocoPhillips from $149.00 to $138.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. Susquehanna decreased their price objective on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a research report on Friday, January 26th. Mizuho decreased their price objective on shares of ConocoPhillips from $139.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of ConocoPhillips from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $135.18.

Check Out Our Latest Research Report on COP

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently bought and sold shares of COP. Fairfield Bush & CO. purchased a new stake in ConocoPhillips in the first quarter worth about $31,000. Cetera Investment Advisers grew its holdings in ConocoPhillips by 4.0% in the first quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after purchasing an additional 968 shares during the period. Baird Financial Group Inc. grew its holdings in ConocoPhillips by 1.9% in the first quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock worth $51,213,000 after purchasing an additional 9,313 shares during the period. Zions Bancorporation N.A. grew its holdings in ConocoPhillips by 59.1% in the first quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock worth $181,000 after purchasing an additional 672 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of ConocoPhillips by 21.3% in the first quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock worth $1,406,000 after buying an additional 2,465 shares in the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.

ConocoPhillips Company Profile

(Get Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.

See Also

Dividend History for ConocoPhillips (NYSE:COP)

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