ConocoPhillips: Increase in Capital Expenditures Guidance Spooks Market, Capital Discipline Intact

ConocoPhillips reported adjusted earnings increased to $3.4 billion in the fourth quarter, compared with $3.0 billion a year earlier, largely on higher volumes and improved realized price. Following its three-tier capital return framework, it paid out $2.4 billion in dividends and variable return of cash and repurchased $2.7 billion in shares.