ConocoPhillips (COP) to Issue Quarterly Dividend of $0.78 on March 3rd

ConocoPhillips (NYSE:COP) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Investors of record on Monday, February 17th will be paid a dividend of 0.78 per share by the energy producer on Monday, March 3rd. This represents a $3.12 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, February 14th.

ConocoPhillips has raised its dividend payment by an average of 12.9% annually over the last three years. ConocoPhillips has a dividend payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ConocoPhillips to earn $8.94 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 34.9%.

ConocoPhillips Price Performance

COP stock opened at $98.34 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The business has a 50 day simple moving average of $101.25 and a 200-day simple moving average of $106.28. The firm has a market capitalization of $113.18 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities research analysts anticipate that ConocoPhillips will post 8.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on COP shares. Evercore ISI restated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Raymond James upped their price target on ConocoPhillips from $148.00 to $157.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their price target for the company from $120.00 to $123.00 in a research report on Thursday, December 5th. Finally, Piper Sandler reduced their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $135.89.

Insiders Place Their Bets

In related news, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This trade represents a 37.68 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Corporate 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.