ConocoPhillips to Issue Quarterly Dividend of $0.84 (NYSE:COP)

Key Points

• ConocoPhillips declared a quarterly dividend of $0.84 per share, payable June 1 to shareholders of record May 11 (ex-dividend date May 11), implying an annualized yield of about 2.7%.
• The company beat Q1 estimates with EPS of $1.89 (vs. $1.55 expected) and revenue of $15.76 billion, and its dividend is covered with a payout ratio of 47.7% (projected ~43.6% next year).
• Shares traded down about 1.7% to $126.10 on the day, and analysts hold a consensus "Moderate Buy" rating with an average price target of $132.44.

ConocoPhillips (NYSE:COP - Get Free Report) declared a quarterly dividend on Thursday, April 30th. Shareholders of record on Monday, May 11th will be given a dividend of 0.84 per share by the energy producer on Monday, June 1st. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, May 11th.

ConocoPhillips has increased its dividend payment by an average of 0.1%per year over the last three years. ConocoPhillips has a dividend payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect ConocoPhillips to earn $7.71 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 43.6%.

ConocoPhillips Trading Down 1.7%

NYSE:COP traded down $2.15 on Thursday, reaching $126.10. The company's stock had a trading volume of 11,914,362 shares, compared to its average volume of 9,608,501. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30. The firm has a market cap of $153.69 billion, a PE ratio of 19.89, a PEG ratio of 2.14 and a beta of 0.19. The business's 50-day moving average price is $121.88 and its two-hundred day moving average price is $104.07. ConocoPhillips has a 1-year low of $84.28 and a 1-year high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.34. The company had revenue of $15.76 billion during the quarter, compared to analysts' expectations of $14.90 billion. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.ConocoPhillips's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 7.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Roth Mkm lowered ConocoPhillips from a "buy" rating to a "neutral" rating and set a $112.00 target price on the stock. in a report on Tuesday, February 17th. Sanford C. Bernstein upped their target price on ConocoPhillips from $98.00 to $121.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. Wall Street Zen upgraded ConocoPhillips from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Mizuho upped their target price on ConocoPhillips from $121.00 to $136.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. Finally, UBS Group upped their target price on ConocoPhillips from $130.00 to $144.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $132.44.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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