ConocoPhillips (COP) to Distribute Quarterly Dividend of $0.78 on June 3rd

ConocoPhillips (NYSE:COP) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Monday, May 13th will be given 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 of this dividend is Friday, May 10th.

ConocoPhillips has raised its dividend payment by an average of 7.7% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. ConocoPhillips has a dividend payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Equities 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 %

Shares of COP opened at $123.54 on Wednesday. The company has a market capitalization of $144.48 billion, a PE ratio of 13.99, a PEG ratio of 2.69 and a beta of 1.25. The stock’s 50-day moving average price is $124.31 and its two-hundred day moving average price is $117.59. 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.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period in the previous year, the firm earned $2.71 earnings per share. On average, analysts anticipate that ConocoPhillips will post 9.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on COP shares. Mizuho reissued a “neutral” rating and set a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Morgan Stanley boosted their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. UBS Group raised their target price on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Piper Sandler boosted their price target on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company lifted their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $142.76.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the transaction, the chief financial officer now directly owns 44,153 shares in the company, valued at $5,444,947.96. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock worth $87,615,169 in the last quarter. 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.