Fintel reports that on September 18, 2023, Truist Securities maintained coverage of Conoco Phillips (NYSE:COP) with a Buy recommendation.
Analyst Price Forecast Suggests 9.67% Upside
As of August 31, 2023, the average one-year price target for Conoco Phillips is 135.52. The forecasts range from a low of 108.07 to a high of $160.65. The average price target represents an increase of 9.67% from its latest reported closing price of 123.57.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Conoco Phillips is 68,746MM, a decrease of 0.04%. The projected annual non-GAAP EPS is 13.16.
Conoco Phillips Declares $0.51 Dividend
On August 3, 2023 the company declared a regular quarterly dividend of $0.51 per share ($2.04 annualized). Shareholders of record as of August 16, 2023 received the payment on September 1, 2023. Previously, the company paid $0.51 per share.
At the current share price of $123.57 / share, the stock’s dividend yield is 1.65%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.34%, the lowest has been 1.43%, and the highest has been 6.86%. The standard deviation of yields is 1.21 (n=236).
The current dividend yield is 1.39 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 1.70%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 3297 funds or institutions reporting positions in Conoco Phillips. This is a decrease of 97 owner(s) or 2.86% in the last quarter. Average portfolio weight of all funds dedicated to COP is 0.54%, a decrease of 6.35%. Total shares owned by institutions decreased in the last three months by 2.43% to 1,180,419K shares. 
The put/call ratio of COP is 0.95, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 55,589K shares representing 4.64% ownership of the company. In its prior filing, the firm reported owning 59,843K shares, representing a decrease of 7.65%. The firm increased its portfolio allocation in COP by 589.16% over the last quarter.
Wellington Management Group Llp holds 46,591K shares representing 3.89% ownership of the company. In its prior filing, the firm reported owning 44,731K shares, representing an increase of 3.99%. The firm increased its portfolio allocation in COP by 3.80% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 37,812K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 37,658K shares, representing an increase of 0.41%. The firm decreased its portfolio allocation in COP by 3.25% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 28,811K shares representing 2.41% ownership of the company. In its prior filing, the firm reported owning 28,558K shares, representing an increase of 0.88%. The firm decreased its portfolio allocation in COP by 4.57% over the last quarter.
Massachusetts Financial Services holds 28,214K shares representing 2.36% ownership of the company. In its prior filing, the firm reported owning 25,796K shares, representing an increase of 8.57%. The firm increased its portfolio allocation in COP by 10.01% 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.
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