ConocoPhillips (COP) To Go Ex-Dividend on May 10th

ConocoPhillips (NYSE:COP) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Monday, May 13th will be paid 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 dividend yield of 2.55%. The ex-dividend date is Friday, May 10th.

ConocoPhillips has raised its dividend by an average of 7.7% per year over the last three years and has increased 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 analysts expect ConocoPhillips to earn $10.51 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 Performance

COP stock opened at $122.25 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.29 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $123.63 and its two-hundred day moving average price is $117.75. ConocoPhillips has a 1-year low of $95.81 and a 1-year high of $135.18. The firm has a market cap of $143.82 billion, a PE ratio of 13.84, a P/E/G ratio of 2.68 and a beta of 1.25.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter last year, the business posted $2.71 EPS. As a group, research analysts forecast that ConocoPhillips will post 9.11 earnings per share for the current year.

Analysts Set New Price Targets

COP has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley upped their price objective on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Barclays started coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 target price for the company. Mizuho reaffirmed a “neutral” rating and set a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Finally, Piper Sandler lifted their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.76.

Insider Transactions at ConocoPhillips

In related news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 700,775 shares of company stock worth $87,615,169. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Company Profile

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.