ConocoPhillips stock posts doubled profit, lifts dividend 11%
Published on 11/05/2026 at 16:44 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSQuarterly profit and production outlook
- ConocoPhillips reported stronger third-quarter earnings as realized prices increased, despite lower production.
- Management raised the ordinary dividend and kept full-year capital spending and adjusted cost guidance unchanged.
- Fourth-quarter production is expected to exceed the third-quarter level.
ConocoPhillips reported stronger third-quarter results on Thursday, November 5, 2026, as higher realized prices more than offset lower production. In its third-quarter news release, the company reported earnings of 4.0 billion US dollars, or 3.34 US dollars per share, compared with 1.7 billion US dollars, or 1.38 US dollars per share, a year earlier.
Adjusted earnings rose to 3.9 billion US dollars, or 3.27 US dollars per share, from 2.0 billion US dollars, or 1.61 US dollars per share. The company said higher prices were the primary driver, while lower volumes partly offset the gain. Special items primarily reflected the reversal of a tax reserve.
Dividend increase supports shareholder returns
ConocoPhillips raised its quarterly ordinary dividend by 11% to 0.93 US dollars per share. The higher payment applies to the fourth-quarter dividend and is scheduled for December 1, 2026, for shareholders of record at the close of business on November 16.
The company distributed 3.4 billion US dollars to shareholders during the quarter, including 2.4 billion US dollars of share repurchases and 1.0 billion US dollars of ordinary dividends. Cash from operations was 7.2 billion US dollars, while capital expenditures and investments totaled 3.1 billion US dollars.
Production outlook moves higher
Total production was 2.302 million barrels of oil equivalent per day, down 97,000 barrels per day from the year-earlier quarter. After adjusting for closed acquisitions and dispositions, production fell 2%. The average realized price increased 32% to 61.40 US dollars per barrel of oil equivalent.
ConocoPhillips expects fourth-quarter production of 2.32 million to 2.36 million barrels of oil equivalent per day. Full-year capital expenditure and adjusted operating cost guidance remains unchanged. Willow module fabrication was more than 75% complete, with first oil still targeted for early 2029.
The real-time quote of ConocoPhillips stock was 125.02 euros on Lang & Schwarz at 16:34 CET on Thursday, November 5, 2026.
ConocoPhillips stock at a glance
- Company: ConocoPhillips
- ISIN: US20825C1045
- Ticker: COP
- Exchange: New York Stock Exchange
- Lang & Schwarz quote: 125.02 euros at 16:34 CET on November 5, 2026
- Third-quarter adjusted earnings: 3.27 US dollars per share
- Fourth-quarter production outlook: 2.32 million to 2.36 million barrels of oil equivalent per day
The broader market backdrop is the S&P 500.
