Fintel reports that on July 24, 2023, Raymond James maintained coverage of Conoco Phillips (NYSE:COP) with a Strong Buy recommendation.
Analyst Price Forecast Suggests 15.66% Upside
As of July 6, 2023, the average one-year price target for Conoco Phillips is 132.68. The forecasts range from a low of 94.94 to a high of $173.25. The average price target represents an increase of 15.66% from its latest reported closing price of 114.72.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Conoco Phillips is 68,746MM, a decrease of 11.52%. The projected annual non-GAAP EPS is 13.16.
Conoco Phillips Declares $0.51 Dividend
On May 4, 2023 the company declared a regular quarterly dividend of $0.51 per share ($2.04 annualized). Shareholders of record as of May 16, 2023 received the payment on June 1, 2023. Previously, the company paid $0.51 per share.
At the current share price of $114.72 / share, the stock's dividend yield is 1.78%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.26%, the lowest has been 1.43%, and the highest has been 6.86%. The standard deviation of yields is 1.23 (n=236).
The current dividend yield is 1.21 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.42. 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 2.24%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 3371 funds or institutions reporting positions in Conoco Phillips. This is a decrease of 35 owner(s) or 1.03% in the last quarter. Average portfolio weight of all funds dedicated to COP is 0.55%, a decrease of 19.69%. Total shares owned by institutions decreased in the last three months by 2.57% to 1,202,437K shares. 
The put/call ratio of COP is 0.99, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 59,843K shares representing 4.95% ownership of the company. In it's prior filing, the firm reported owning 58,686K shares, representing an increase of 1.93%. The firm decreased its portfolio allocation in COP by 20.78% over the last quarter.
Wellington Management Group Llp holds 44,731K shares representing 3.70% ownership of the company. In it's prior filing, the firm reported owning 43,593K shares, representing an increase of 2.55%. The firm decreased its portfolio allocation in COP by 14.74% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 37,658K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 37,878K shares, representing a decrease of 0.59%. The firm decreased its portfolio allocation in COP by 22.82% over the last quarter.
Capital World Investors holds 29,099K shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 31,019K shares, representing a decrease of 6.60%. The firm decreased its portfolio allocation in COP by 23.52% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 28,558K shares representing 2.36% ownership of the company. In it's prior filing, the firm reported owning 28,806K shares, representing a decrease of 0.87%. The firm decreased its portfolio allocation in COP by 22.70% 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.
Additional reading:
- CONOCOPHILLIPS COMPANY 5.300% Notes due 2053 Fully and Unconditionally Guaranteed by
- 2023 OMNIBUS STOCK AND PERFORMANCE INCENTIVE PLAN OF CONOCOPHILLIPS (As Established Effective May 16, 2023)
- SECOND AMENDED AND RESTATED BY-LAWS OF CONOCOPHILLIPS
- ConocoPhillips Reports First-Quarter 2023 Results; Raises Full-Year Production Guidance Midpoint and Declares Quarterly Dividend and Variable Return of Cash Distribution
- 2022
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.
