ConocoPhillips stock heads into Q3 report with higher EPS view

ConocoPhillips heads into its third-quarter reporting date with analysts expecting a sharp improvement in earnings. The company is scheduled to release results before the market opens on Thursday, November 5, according to an AD HOC NEWS preview citing Zacks Investment Research.

ConocoPhillips stock traded at 134.44 euros on Lang & Schwarz at 15:36 CET on Monday, November 2, 2026; the quote was 1.05 percent below the 135.87-euro level cited in the same-day report at 10:37 CET. The real-time quote of ConocoPhillips stock is available here.

Estimates set the earnings hurdle

Zacks raised its consensus estimate for third-quarter earnings per share to 2.97 US dollars, an 84.5 percent increase from the year-earlier period. The research firm expects quarterly revenue of 18.2 billion US dollars, implying growth of 17.5 percent from the comparable quarter.

The operating backdrop has improved for exploration and production companies. Average Cushing, Oklahoma, West Texas Intermediate spot prices reached 80.46 US dollars per barrel in July, 83.90 US dollars in August and 97.31 US dollars in September, compared with 68.39, 64.86 and 63.96 US dollars in the same months of the prior year.

Results will test the commodity benefit

Zacks said the stronger oil-price backdrop was likely to have supported ConocoPhillips' upstream operations during the September quarter. Investors will need to compare that benefit with production, costs and the company's forward outlook when the report arrives.

The research firm said ConocoPhillips had exceeded consensus earnings estimates in three of the previous four quarters, missed once and delivered an average surprise of 7.04 percent. Its Earnings ESP stood at positive 4.50 percent, while Zacks assigned the company a Rank 1.

The broader market backdrop is tracked through the S&P 500.

More earnings coverage and company developments are available in More news and analyses on ConocoPhillips stock.