ConocoPhillips generated approximately $4 billion of third-quarter free cash flow after $3.1 billion of capital expenditures, returned $3.4 billion to shareholders, and raised its quarterly dividend 11%. It targets $7 billion of free cash flow by 2029.
COP · Conocophillips
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ConocoPhillips reported third-quarter 2026 earnings of $4.0 billion, or $3.34 per share, versus $1.7 billion, or $1.38 per share, in third-quarter 2025. It raised the quarterly ordinary dividend by 11% to $0.93 per share and generated $7.2 billion of cash from operations.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;DR. ConocoPhillips delivered Q2 production above guidance with record Permian output, raised shareholder returns to $3.0B (doubled buybacks), achieved its $5B disposition target ahead of schedule, signed new LNG offtake (12 MTPA total) and Middle East growth deals in Iraq and Syria, and announced CEO succession from Ryan Lance to Andy O'Brien effective September 1; full-year guidance was reaffirmed while Q3 production was guided at 2.29–2.32 MBOED.
- + Q2 production beat guidance, with Permian hitting a record above 900,000 BOED
- + Adjusted EPS of $3.24 and $4.2B free cash flow, with $3.0B of distributions including doubled buybacks
- + Added 2 MTPA of commercial LNG offtake, lifting total to 12 MTPA
- + Secured new low-cost-of-supply growth deals in Iraq (Kirkuk) and Syria
- − Qatar output was largely shut-in due to Middle East conflict, creating uncertainty around ramp pace
- − Total production declined 4% year-over-year on a pro forma underlying basis
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Mentioned in fund letters
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| adjusted earnings per share non-GAAP | $3.24 | second-quarter 2026 | — |
| Average Net Production - Bitumen (MBD) | 115 | the three months ended June 30, 2026 filing | — |
| Average Net Production - Total crude oil (MBD) | 1,094 | the three months ended June 30, 2026 filing | — |
| Average Net Production - Total natural gas (MMCFD) | 3,710 | the three months ended June 30, 2026 filing | — |
| Average Net Production - Total natural gas liquids (MBD) | 420 | the three months ended June 30, 2026 filing | — |
| Average Net Production Natural gas liquids | 8 | Three Months Ended June 30, 2026 filing | — |
| Average Sales Prices - Crude oil (per BBL) | $99.47 | the three months ended June 30, 2026 filing | — |
| Average Sales Prices Natural gas liquids | $26.57 | Three Months Ended June 30, 2026 filing | — |
| cash from operations (CFO) non-GAAP | $7.2B | second-quarter 2026 | — |
| LNG offtake | 12 | second-quarter 2026 | — |
| Lower 48 production | 1,479 | the three months ended June 30, 2026 filing | — |
| ordinary dividend | $1B | second-quarter 2026 | — |
| share repurchases | $2B | second-quarter 2026 | — |
| Total Production (Alaska) | 185 | Three Months Ended June 30 filing | — |
| Total Production (Canada) | 152 | Three Months Ended June 30 filing | — |
| Total Production (Europe, Middle East and North Africa) | 215 | Three Months Ended June 30 filing | — |
| Total Production (MBOED) | 2,248 | 2nd Qtr | — |
| total shareholder distributions | $3B | second-quarter 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Oil & Gas E&P — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
COP
this stock
Conocophillips
|
$168.22B | +52.0% | +7.7% | 14.9 | 1.4% |
|
CNQ
CANADIAN NATURAL RESOURCES Ltd
|
$101.25B | +47.0% | — | — | 2.5% |
|
EOG
Eog Resources Inc
|
$82.09B | +50.8% | -4.5% | 10.2 | 3.2% |
|
OXY
Occidental Petroleum Corp
|
$58.74B | +42.9% | -1.9% | 7.8 | 2.7% |
|
DVN
Devon Energy Corp
|
$53.09B | +27.2% | +7.8% | 11.6 | 2.3% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 5, 2026
- This year
- 16
ConocoPhillips reported third-quarter 2026 earnings of $4.0 billion, or $3.34 per share, versus $1.7 billion, or $1.38 per share, in third-quarter 2025. It raised the quarterly ordinary dividend by 11% to $0.93 per share and generated $7.2 billion of cash from operations.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| COP | +4.4% | -2.9% | +22.1% | -7.6% | +52.0% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +1.8% | -1.7% | +21.6% | -7.5% | +41.4% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.