ConocoPhillips Earnings: Results Fall on Lower Oil Prices; Cash Continues to Flow to Shareholders

ConocoPhillips reported first-quarter adjusted earnings decreased to $2.9 billion from $4.3 billion a year earlier, largely on lower oil and gas prices. Following its three-tier capital return framework, it paid out $1.5 billion in dividends and variable return of cash and repurchased $1.7 billion in shares.