ConocoPhillips stock lifts dividend after Q3 profit surge

ConocoPhillips reported stronger third-quarter results on Thursday, November 5, after higher realized commodity prices lifted earnings despite lower production. The company said in its news release that net income reached $4.0 billion, or $3.34 per share, compared with $1.7 billion, or $1.38 per share, in the third quarter of 2025.

ConocoPhillips stock traded at 122.04 euros on Lang & Schwarz at 13:11:49 CET on Wednesday, November 11. The quote is shown without a daily direction because the relevant Xetra closing comparison is not part of the available market information.

Higher Prices Offset Lower Volumes

Adjusted earnings rose to $3.9 billion, or $3.27 per share, from $2.0 billion, or $1.61 per share, in the prior-year quarter. The company said special items primarily reflected the reversal of a tax reserve, making the adjusted figures the more useful measure for comparing underlying performance.

ConocoPhillips reported an average realized price of $61.40 per barrel of oil equivalent, up from $46.44 a year earlier. Production totaled 2.302 million barrels of oil equivalent per day, down 97,000 barrels per day from the same quarter last year. On a pro forma basis that adjusts for closed acquisitions and dispositions, production declined by 2%.

Lower production was partly offset by organic growth in the Lower 48. The company attributed the remaining production pressure to the impact of the Middle East conflict on Qatar and higher Surmont royalties. Lower 48 output reached 1.517 million barrels of oil equivalent per day, including 757,000 from the Delaware Basin and 197,000 from the Midland Basin.

Dividend Increase Sets New Payout

ConocoPhillips raised its quarterly ordinary dividend by 11% to $0.93 per share. The increase applies to the fourth-quarter dividend, which is payable on December 1 to shareholders of record at the close of business on November 16.

The company distributed $3.4 billion to shareholders during the quarter, including $2.4 billion in share repurchases and $1.0 billion in ordinary dividends. Cash from operations totaled $7.2 billion, while free cash flow reached $4.039 billion after $3.133 billion of capital expenditures and investments. Management said the company remains on track to return 45% of cash from operations to shareholders in 2026.

Fourth-Quarter Production Outlook

ConocoPhillips expects fourth-quarter production to average between 2.32 million and 2.36 million barrels of oil equivalent per day. Full-year capital expenditure and adjusted operating cost guidance remained unchanged. Management also expects another quarter of sequential production growth in the Lower 48, while turnaround effects are expected to remain flat against the third quarter.

Chief Executive Officer Andy O'Brien said the company was capturing efficiencies across its Lower 48 assets, expanding its commercial LNG offtake portfolio and advancing the Willow project. The company said Willow module fabrication was more than 75% complete and remained on track for first oil in early 2029. Its commercial LNG offtake portfolio expanded to 13 million tonnes per annum.

ConocoPhillips Company Facts

• Company: ConocoPhillips
• ISIN: US20825C1045
• NYSE ticker: COP
• Frankfurt/Xetra symbol: YCP
• Lang & Schwarz quote: 122.04 euros, Wednesday, November 11, 2026, 13:11:49 CET
• Third-quarter earnings: $4.0 billion
• Adjusted earnings per share: $3.27

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