ConocoPhillips (NYSE:COP) announced a quarterly dividend on Friday, October 6th, RTT News reports. Investors of record on Monday, October 16th will be given a dividend of 0.265 per share by the energy producer on Friday, December 1st. This represents a $1.06 annualized dividend and a yield of 2.13%.

ConocoPhillips has decreased its dividend by an average of 28.2% per year over the last three years. ConocoPhillips has a dividend payout ratio of 365.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect ConocoPhillips to earn $1.25 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 84.8%.

Shares of ConocoPhillips (NYSE COP) traded down 1.77% during trading on Friday, hitting $48.82. The stock had a trading volume of 1,861,420 shares. The company’s market cap is $59.41 billion. ConocoPhillips has a 1-year low of $40.37 and a 1-year high of $53.17. The firm’s 50 day moving average is $46.16 and its 200 day moving average is $45.91.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.16. The business had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $6.74 billion. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. During the same quarter last year, the company posted ($0.79) earnings per share. Equities research analysts anticipate that ConocoPhillips will post $0.27 EPS for the current fiscal year.

Several research analysts recently issued reports on COP shares. BidaskClub upgraded shares of ConocoPhillips from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada restated a “buy” rating and set a $62.00 price target on shares of ConocoPhillips in a research report on Thursday, June 15th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $52.00 target price on shares of ConocoPhillips in a research report on Thursday, June 22nd. Scotiabank set a $54.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Sanford C. Bernstein lowered shares of ConocoPhillips from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $63.00 to $42.00 in a research report on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $54.45.

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ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

Dividend History for ConocoPhillips (NYSE:COP)

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