ConocoPhillips (NYSE:COP) Declares $0.78 Quarterly Dividend

ConocoPhillips (NYSE:COP) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Monday, May 13th will be paid a dividend of 0.78 per share by the energy producer on Monday, June 3rd. This represents a $3.12 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Friday, May 10th.

ConocoPhillips has increased its dividend by an average of 7.7% per year over the last three years and has increased its dividend every year for the last 7 years. ConocoPhillips has a dividend payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ConocoPhillips to earn $10.49 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 22.1%.

ConocoPhillips Stock Down 0.0 %

ConocoPhillips stock opened at $123.54 on Wednesday. The firm has a market cap of $144.48 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 2.69 and a beta of 1.25. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $97.42 and a 12 month high of $135.18. The stock has a fifty day simple moving average of $124.31 and a two-hundred day simple moving average of $117.59.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the prior year, the business earned $2.71 EPS. Equities analysts predict that ConocoPhillips will post 9.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on COP shares. Piper Sandler lifted their price objective on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Mizuho reaffirmed a “neutral” rating and issued a $139.00 price objective (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Truist Financial cut their price objective on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Scotiabank lifted their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Finally, UBS Group increased their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.76.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Dominic E. Macklon sold 23,372 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total value of $2,621,637.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock valued at $87,615,169 in the last 90 days. Insiders own 0.34% of the company’s stock.

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.