ConocoPhillips

COP

Equity

ISIN US20825C1045 / Valor 1330331

New York Stock Exchange, Inc (2024-12-26)

USD 96.89-0.23%

ConocoPhillips
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About company

ConocoPhillips stands as a leading entity in the global energy sector, distinguished by its status as one of the largest independent exploration and production (E&P) companies. With a focus on both production and proved reserves, the company specializes in the exploration and production of oil and natural gas. Leveraging advanced technology and significant investment, ConocoPhillips is adept at not only extracting these vital resources but also ensuring their efficient delivery to the market. The company's operations are characterized by a blend of innovation and collaboration, aimed at generating products that not only enhance global quality of life but also contribute to substantial economic benefits. Through its strategic focus on core areas of the energy sector, ConocoPhillips plays a pivotal role in meeting the world's energy needs while maintaining a commitment to operational excellence and sustainability in its practices.

Summarized from source with an LLMView SourceSector: Energy

Earnings Overview

ConocoPhillips reported third-quarter 2024 earnings of $2.1 billion, or $1.76 per share, compared to $2.8 billion, or $2.32 per share, in the third quarter of 2023. Adjusted earnings for the same period were $2.1 billion, or $1.78 per share, down from $2.6 billion, or $2.16 per share, in the previous year. The decrease in earnings was primarily due to lower realized prices.

Revenue and Cash Flow

For the third quarter of 2024, ConocoPhillips generated cash provided by operating activities of $5.8 billion. Excluding a $1.0 billion change in working capital, the company generated cash from operations (CFO) of over $4.7 billion. This financial performance supported capital expenditures and investments totaling $2.9 billion during the quarter.

Dividend and Share Repurchase

ConocoPhillips increased its ordinary dividend by 34% to $0.78 per share, payable on December 2, 2024. Additionally, the company expanded its existing share repurchase authorization by up to $20 billion, reflecting its commitment to returning capital to shareholders.

Production Highlights

In the third quarter of 2024, ConocoPhillips achieved total company production of 1,917 thousand barrels of oil equivalent per day (MBOED), marking an increase of 111 MBOED from the same period in 2023. The company also reported record production in the Lower 48 states, with significant contributions from the Permian, Eagle Ford, and Bakken regions.

Outlook

ConocoPhillips expects fourth-quarter 2024 production to range between 1.99 and 2.03 million barrels of oil equivalent per day (MMBOED). The full-year production guidance has been slightly adjusted to approximately 1.94 to 1.95 MMBOED, up from the prior guidance of 1.93 to 1.94 MMBOED. The company remains on track to distribute at least $9 billion to shareholders for the year 2024.

Summarized from source with an LLMView Source

Key figures

-18.6%1Y

36.1%3Y

49.1%5Y

Performance

22.4%1Y

32.6%3Y

44.3%5Y

Volatility