ConocoPhillips Profit Beats Estimates as Company Raises Dividend by 11 Percent

ConocoPhillips reported third-quarter 2026 earnings of 4.0 billion dollars on Thursday, November 5, 2026, and raised its quarterly dividend by 11 percent. Adjusted earnings were 3.9 billion dollars, or 3.27 dollars per share.

Reuters reported that the adjusted profit beat the Wall Street average estimate of 2.97 dollars per share compiled by LSEG. Reuters said stronger commodity prices and cost cutting offset lower output in the quarter. The company release does not carry the analyst estimate, and the beat is attributed to Reuters and LSEG data.

A year earlier, in the third quarter of 2025, the company earned 1.7 billion dollars, or 1.38 dollars per share. The company said special items in the 2026 quarter primarily reflect the reversal of a tax reserve.

Dividend and cash returns

The new quarterly ordinary dividend is 0.93 dollars per share. It is payable on December 1, 2026 to stockholders of record on November 16, 2026.

Cash from operations was 7.2 billion dollars in the quarter. The company distributed 3.4 billion dollars to shareholders, made up of 2.4 billion dollars through share repurchases and 1.0 billion dollars through the ordinary dividend. The company says it is on track for a 45 percent return of cash from operations in 2026.

Production and prices

Total production was 2,302 thousand barrels of oil equivalent per day. That was down 97 thousand barrels of oil equivalent per day from a year earlier.

The average realised price was 61.40 dollars per barrel of oil equivalent, 32 percent higher than a year earlier. Benchmark Brent crude averaged about 89.27 dollars per barrel in the quarter, up more than 31 percent, Reuters reported, using the company release figures for production and price.

For the fourth quarter of 2026, the company expects production of 2.32 to 2.36 million barrels of oil equivalent per day. Full-year capital expenditure and operating cost guidance was unchanged.

The result is a scheduled earnings release, published by the company at 07:00 ET on November 5, 2026, with its conference call set for 12:00 ET the same day. For the MarketPulse earnings board, the recorded figures are the reported earnings of 4.0 billion dollars, adjusted earnings per share of 3.27 dollars, the LSEG average estimate of 2.97 dollars per share reported by Reuters, production of 2,302 thousand barrels of oil equivalent per day, and the raised dividend of 0.93 dollars per share.