ConocoPhillips said on February 2, 2023 that its board of directors declared a regular quarterly dividend of $0.51 per share ($2.04 annualized). Shareholders of record as of February 13, 2023 will receive the payment on March 1, 2023. Previously, the company paid $0.51 per share.
At the current share price of $108.11 / share, the stock's dividend yield is 1.89%. Looking back five years and taking a sample every week, the average dividend yield has been 2.94%, the lowest has been 1.43%, and the highest has been 6.86%. The standard deviation of yields is 1.11 (n=237).
The current dividend yield is 0.95 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.36. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 1.97%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 30.35% Upside
As of February 4, 2023, the average one-year price target for ConocoPhillips is $140.92. The forecasts range from a low of $102.01 to a high of $168.00. The average price target represents an increase of 30.35% from its latest reported closing price of $108.11.
The projected annual revenue for ConocoPhillips is $68,746MM, a decrease of 16.32%. The projected annual EPS is $13.16, a decrease of 10.26%.
Fund Sentiment
There are 3289 funds or institutions reporting positions in ConocoPhillips. This is an increase of 53 owner(s) or 1.64%.
Average portfolio weight of all funds dedicated to US:COP is 0.6815%, an increase of 12.8411%. Total shares owned by institutions decreased in the last three months by 1.14% to 1,274,174K shares.
What are large shareholders doing?
Jpmorgan Chase & holds 53,742,623 shares representing 4.31% ownership of the company. In it's prior filing, the firm reported owning 54,652,762 shares, representing a decrease of 1.69%. The firm increased its portfolio allocation in COP by 15.51% over the last quarter.
Capital International Investors holds 43,372,362 shares representing 3.48% ownership of the company. In it's prior filing, the firm reported owning 45,321,223 shares, representing a decrease of 4.49%. The firm increased its portfolio allocation in COP by 16.94% over the last quarter.
Wellington Management Group Llp holds 42,971,424 shares representing 3.45% ownership of the company. In it's prior filing, the firm reported owning 35,834,407 shares, representing an increase of 16.61%. The firm decreased its portfolio allocation in COP by 79.91% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 37,990,477 shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 38,089,329 shares, representing a decrease of 0.26%. The firm increased its portfolio allocation in COP by 18.47% over the last quarter.
Capital World Investors holds 32,919,991 shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 26,007,131 shares, representing an increase of 21.00%. The firm increased its portfolio allocation in COP by 52.44% over the last quarter.
Conoco Phillips Background Information
(This description is provided by the company.)
Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 15 countries, $63 billion of total assets, and approximately 9,800 employees at Sept. 30, 2020. Production excluding Libya averaged 1,108 MBOED for the nine months ended Sept. 30, 2020, and proved reserves were 5.3 BBOE as of Dec. 31, 2019.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
