ConocoPhillips (COP) To Go Ex-Dividend on May 19th

ConocoPhillips (NYSE:COP) announced a quarterly dividend on Friday, May 9th, Wall Street Journal reports. Investors of record on Monday, May 19th will be given a dividend of 0.78 per share by the energy producer on Monday, June 2nd. This represents a $3.12 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Monday, May 19th.

ConocoPhillips has raised its dividend payment by an average of 6.9% annually over the last three years. ConocoPhillips has a dividend payout ratio of 41.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect ConocoPhillips to earn $8.84 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 35.3%.

ConocoPhillips Price Performance

COP stock opened at $88.58 on Friday. The company’s 50-day moving average price is $93.08 and its two-hundred day moving average price is $99.40. The firm has a market cap of $111.98 billion, a P/E ratio of 11.37, a P/E/G ratio of 0.79 and a beta of 0.64. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $122.56.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. During the same period last year, the firm posted $2.05 earnings per share. On average, analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

COP has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Truist Financial increased their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Morgan Stanley raised their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research note on Friday. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. Finally, UBS Group cut their target price on shares of ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $124.89.

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.