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

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 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, February 14th.

ConocoPhillips has increased its dividend by an average of 12.9% annually over the last three years. ConocoPhillips has a payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of ConocoPhillips stock opened at $100.93 on Wednesday. The company has a market capitalization of $116.16 billion, a PE ratio of 12.96, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a 50-day simple moving average of $100.83 and a two-hundred day simple moving average of $105.97. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.16 and a current ratio of 1.29.

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%. Research analysts expect that ConocoPhillips will post 8.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

COP has been the topic of several research analyst reports. Morgan Stanley began coverage on ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Truist Financial increased their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.72.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director R A. Walker acquired 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now 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 disclosure for this purchase can be found here. 0.34% of the stock is currently owned by corporate insiders.

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.