30 Growing Dividend Stocks with Low PE Ratios

5. ConocoPhillips (NYSE:COP)

Forward P/E Ratio as of April 22: 10.65

ConocoPhillips (NYSE:COP), recognized as one of the largest independent exploration and production companies globally by output and reserves, delivered a solid performance in the fourth quarter of 2024. The company reported revenue of $14.74 billion, surpassing forecasts by nearly $515 million. Its adjusted earnings per share came in at $1.98, beating expectations by $0.15.

A key highlight for the quarter was ConocoPhillips (NYSE:COP)’s $22.5 billion acquisition of Marathon in November 2024, which strengthened its resource base by more than 2 billion barrels of oil and gas with an average supply cost under $30 per barrel. Following this acquisition, the company saw a 14.8% year-over-year increase in production, reaching 2.183 million barrels of oil equivalent per day during the quarter.

ConocoPhillips (NYSE:COP) maintains a solid financial foundation, making it an appealing choice for income-focused investors. Over the past year, the company generated $20.1 billion in operating cash flow and reported $20.3 billion in total cash from operations. Remaining committed to shareholder returns, it paid out $3.6 billion in dividends. In October, the company raised its quarterly dividend by 34% to $0.78 per share, marking its tenth straight year of dividend growth. Its quarterly dividend comes in at $0.78 per share and has a dividend yield of 3.48%, as of April 22.