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Barchart
Barchart
Mark R. Hake, CFA

ConocoPhillips' Expected Dividend Hike Next Month Could Push COP Stock 40% Higher

COP ConocoPhillips Barchart Yahoo Finance

ConocoPhillips (COP) is expected to hike its dividend per share next month. That may help COP shareholders and new potential investors as it could push COP stock up 40% to $121 per share, equal to its trailing 12-month dividend yield.

COP is at $86.29 as of Friday, April 5, down over 15.7% in the last week. That pushed its dividend yield to 3.62% (i.e., $3.12 dividend per share (DPS)/$86.29). This is well over its average 12-month yield of 2.71%, using Morningstar data.

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