$COP · CONOCOPHILLIPS
ConocoPhillips filed an 8-K (Item 2.02) reporting Q3 2026 results. Adjusted EPS was $3.27 versus $1.61 in Q3 2025, on revenue of $15.761B. The company raised its quarterly ordinary dividend 11% to $0.93 per share, payable Dec. 1, 2026 to holders of record Nov. 16, 2026.
- Q3 2026 adjusted EPS of $3.27, up from $1.61 in Q3 2025.
- GAAP EPS of $1.78 (reported $3.34 per share including special items).
- Cash from operations of $7.2B; shareholder distributions of $3.4B including $2.4B in buybacks.
- Dividend raised 11% to $0.93 per share, effective with the Q4 dividend.
- Total production of 2,302 MBOED, down 97 MBOED year over year.
Extended-hours last trade of $139.40, up 1.80% vs the $136.94 regular close, indicating a positive after-hours reaction to the earnings beat and dividend increase.
A near-doubling of adjusted EPS plus an 11% dividend hike signals strong cash generation and shareholder-return momentum despite lower volumes.
The 11% dividend hike is framed as consistent with a top-quartile S&P 500 growth objective, reinforcing COP's shareholder-return positioning among large-cap E&Ps.
Production fell 97 MBOED year over year, with the Middle East conflict impacting Qatar and higher Surmont royalties offsetting Lower 48 organic growth.