ConocoPhillips (NYSE:COP – Get Rating) declared a quarterly dividend on Thursday, May 5th, RTT News reports. Stockholders of record on Tuesday, May 17th will be given a dividend of 0.46 per share by the energy producer on Wednesday, June 1st. This represents a $1.84 annualized dividend and a dividend yield of 1.79%.
ConocoPhillips has raised its dividend by an average of 18.9% annually over the last three years and has increased its dividend every year for the last 5 years. ConocoPhillips has a payout ratio of 16.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ConocoPhillips to earn $13.01 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 14.1%.
Shares of COP stock opened at $102.86 on Friday. The company has a market cap of $133.31 billion, a P/E ratio of 16.97, a PEG ratio of 0.36 and a beta of 1.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.34 and a quick ratio of 1.23. The stock’s 50-day moving average is $99.33 and its 200 day moving average is $86.00. ConocoPhillips has a 1-year low of $51.41 and a 1-year high of $107.52.
In other news, VP Heather G. Sirdashney sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $92.43, for a total transaction of $1,016,730.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Heather G. Sirdashney sold 5,700 shares of the company’s stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $98.71, for a total transaction of $562,647.00. The disclosure for this sale can be found here. Insiders sold a total of 167,800 shares of company stock worth $15,730,870 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Carroll Investors Inc acquired a new stake in shares of ConocoPhillips during the 4th quarter worth about $28,000. First Community Trust NA purchased a new position in ConocoPhillips during the fourth quarter worth about $46,000. Chicago Partners Investment Group LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter valued at about $211,000. Crestwood Advisors Group LLC acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $204,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth approximately $302,000. Institutional investors and hedge funds own 78.80% of the company’s stock.
COP has been the topic of several research analyst reports. Bank of America downgraded ConocoPhillips from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $110.00 to $135.00 in a research note on Tuesday, March 8th. KeyCorp boosted their price target on ConocoPhillips from $112.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, April 8th. Royal Bank of Canada increased their price objective on shares of ConocoPhillips from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday, March 7th. Susquehanna Bancshares boosted their target price on shares of ConocoPhillips from $108.00 to $129.00 in a research report on Monday, April 25th. Finally, Credit Suisse Group raised their price target on shares of ConocoPhillips from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 4th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and an average price target of $105.79.
About ConocoPhillips (Get Rating)
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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