ConocoPhillips' 3.84% Dividend Yield Implies COP Stock Could be 24% Undervalued

ConocoPhillips Inc. (COP) raised its dividend per share (DPS) by 7.7% to $3.36 annually. That gives COP stock a 3.84% annual yield. That is well over its historical average, implying COP could be worth 24% more. One way to play it is to short out-of-the-money put options. COP closed down Thursday, Nov. 20, to $87.47. That is lower than its recent peak of $91.37, which occurred on Nov. 14. That was a week after it released Q3 results on Nov. 6, along with the dividend hike. More News from Barchart COP sto ...