ConocoPhillips (NYSE:COP) to Issue Quarterly Dividend of $0.84

ConocoPhillips (NYSE:COP) declared a quarterly dividend on Thursday, August 6th. Investors of record on Monday, August 17th will be paid a dividend of 0.84 per share by the energy producer on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, August 17th.

ConocoPhillips has increased its dividend payment by an average of 0.1%per year over the last three years. ConocoPhillips has a payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect ConocoPhillips to earn $8.14 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 41.3%.

ConocoPhillips Stock Performance

NYSE COP traded up $1.52 during trading hours on Thursday, hitting $116.56. The company had a trading volume of 8,120,114 shares, compared to its average volume of 8,561,518. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The firm has a market cap of $142.01 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 1.42 and a beta of 0.11. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The business has a fifty day simple moving average of $112.98 and a 200-day simple moving average of $115.46.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s quarterly revenue was up 32.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 earnings per share. Equities analysts predict that ConocoPhillips will post 9.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on COP shares. Sanford C. Bernstein lifted their price objective on shares of ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. UBS Group decreased their target price on shares of ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. BMO Capital Markets dropped their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Capital One Financial cut their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. Finally, Morgan Stanley reduced their price objective on ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $134.16.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.