ConocoPhillips (NYSE:COP) Plans Quarterly Dividend of $0.78

Key Points

• ConocoPhillips announced a quarterly dividend of $0.78 per share, with a record date of August 18th and a payment date of September 2nd, resulting in an annualized yield of 3.3%.
• The company reported $1.42 earnings per share for the last quarter, exceeding analysts' expectations, and has a dividend payout ratio of 44.3%, indicating sustainable dividend coverage.
• Brokerages have increased price targets for ConocoPhillips stock, with a consensus rating of "Moderate Buy" and an average target price of $121.33.

ConocoPhillips (NYSE:COP - Get Free Report) announced a quarterly dividend on Thursday, August 7th, RTT News reports. Shareholders of record on Monday, August 18th will be given a dividend of 0.78 per share by the energy producer on Tuesday, September 2nd. This represents a c) annualized dividend and a yield of 3.3%.

ConocoPhillips has a dividend payout ratio of 44.3% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

COP stock opened at $94.62 on Thursday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The stock has a market capitalization of $119.61 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 2.43 and a beta of 0.67. The stock's fifty day moving average is $92.45 and its two-hundred day moving average is $93.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same period last year, the firm posted $1.98 EPS. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COP. Raymond James Financial lifted their price target on shares of ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. UBS Group upped their price objective on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a report on Friday, July 11th. Barclays decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company restated an "overweight" rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $119.00 price target on shares of ConocoPhillips in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average target price of $121.33.

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.

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