ConocoPhillips (NYSE:COP) to Issue Dividend Increase – $0.78 Per Share

ConocoPhillips (NYSE:COP) announced a quarterly dividend on Thursday, October 31st, RTT News reports. Stockholders of record on Monday, November 11th will be paid a dividend of 0.78 per share by the energy producer on Monday, December 2nd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58.

ConocoPhillips has increased its dividend by an average of 7.7% per year over the last three years. ConocoPhillips has a payout ratio of 38.1% meaning its dividend is sufficiently covered by earnings. Analysts expect ConocoPhillips to earn $8.40 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 37.1%.

ConocoPhillips Trading Up 4.0 %

Shares of ConocoPhillips stock opened at $113.60 on Thursday. The business’s fifty day moving average is $107.81 and its two-hundred day moving average is $112.53. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The firm has a market cap of $130.74 billion, a PE ratio of 13.51, a P/E/G ratio of 0.89 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the firm posted $2.16 EPS. The company’s revenue was down 8.5% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 7.79 earnings per share for the current year.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on COP shares. Susquehanna boosted their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Mizuho increased their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $137.47.

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.