ConocoPhillips, US20825C1045

ConocoPhillips stock: Higher profit supports dividend increase

Published on 11/09/2026 at 13:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ConocoPhillips stock is in focus after the producer reported stronger third-quarter earnings and lifted its ordinary dividend. Fourth-quarter output is expected to rise.

Profit, dividends and production outlook

ConocoPhillips reported stronger third-quarter earnings as higher realized prices outweighed lower production.
The company raised its ordinary dividend and returned capital through buybacks and dividends.
Fourth-quarter production is expected to increase, while full-year capital and operating-cost guidance remains unchanged.

ConocoPhillips, US20825C1045, Illustration mit AI erstellt.

ConocoPhillips reported sharply higher third-quarter earnings on Thursday, November 5, as stronger realized prices more than offset lower production. The Houston-based producer also raised its ordinary dividend and maintained its full-year capital expenditure and adjusted operating cost guidance in a ConocoPhillips news release.

ConocoPhillips stock traded at 120.89 euros on Lang & Schwarz at 1:40 p.m. CET on Monday, November 9. The quote provides the latest trading indication for investors during the European session.

Higher prices lift quarterly earnings

ConocoPhillips recorded third-quarter net 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, in the year-earlier quarter. 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 the improvement was driven primarily by higher prices and was partly offset by lower volumes. The average realized price reached 61.40 US dollars per barrel of oil equivalent, up 32 percent from 46.44 US dollars a year earlier.

Total production fell to 2.302 million barrels of oil equivalent per day from 2.399 million a year earlier. After adjusting for closed acquisitions and dispositions, production declined 2 percent. Growth in the Lower 48 was more than offset by the impact of the Middle East conflict on Qatar and higher Surmont royalties.

Dividend increase reinforces capital returns

ConocoPhillips raised its quarterly ordinary dividend by 11 percent to 0.93 US dollars per share. The new rate applies to the fourth-quarter dividend, payable on December 1 to 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 in share repurchases and 1.0 billion US dollars in ordinary dividends. Management said ConocoPhillips remains on track to return 45 percent of cash from operations to shareholders in 2026.

Cash from operations reached 7.2 billion US dollars, while capital expenditures and investments totaled 3.1 billion US dollars. ConocoPhillips ended the quarter with 10.4 billion US dollars in cash and short-term investments and 1.1 billion US dollars in long-term investments.

Output outlook points to sequential growth

For the fourth quarter, ConocoPhillips expects 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.

Management highlighted efficiency gains in the Lower 48 and said the company is advancing the Willow project, with module fabrication more than 75 percent complete and first oil targeted for early 2029. Surmont Pad 104W-B began production ahead of schedule and under budget, according to the release.

For investors, the results show how higher commodity prices can support earnings and shareholder returns even when production is lower year over year. The main near-term variables remain commodity prices, Qatar operating conditions and the pace of Lower 48 production growth.

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