ConocoPhillips (NYSE:COP) to Issue $0.31 Quarterly Dividend

ConocoPhillips (NYSE:COP) declared a quarterly dividend on Thursday, July 11th, RTT News reports. Shareholders of record on Monday, July 22nd will be given a dividend of 0.305 per share by the energy producer on Tuesday, September 3rd. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, July 19th.

ConocoPhillips has decreased its dividend payment by an average of 26.7% per year over the last three years and has increased its dividend every year for the last 2 years. ConocoPhillips has a payout ratio of 27.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ConocoPhillips to earn $4.27 per share next year, which means the company should continue to be able to cover its $1.22 annual dividend with an expected future payout ratio of 28.6%.

NYSE COP opened at $59.78 on Thursday. The business has a fifty day moving average of $59.99. The stock has a market capitalization of $67.53 billion, a PE ratio of 13.20, a P/E/G ratio of 1.59 and a beta of 1.00. ConocoPhillips has a 12-month low of $56.75 and a 12-month high of $80.24. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. The business had revenue of $10.06 billion during the quarter, compared to analysts’ expectations of $9.16 billion. ConocoPhillips had a net margin of 18.08% and a return on equity of 16.65%. During the same quarter last year, the company posted $0.96 earnings per share. On average, sell-side analysts forecast that ConocoPhillips will post 3.95 earnings per share for the current year.

A number of research firms have issued reports on COP. Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Morgan Stanley set a $207.00 price target on shares of Alibaba Group and gave the company a “buy” rating in a research report on Friday, July 12th. Piper Jaffray Companies set a $30.00 price target on shares of KLX Energy Services and gave the company a “buy” rating in a research report on Thursday, March 21st. Mizuho began coverage on shares of Avrobio in a report on Wednesday, June 26th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and a consensus target price of $77.07.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its 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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Dividend History for ConocoPhillips (NYSE:COP)

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