ConocoPhillips 3Q Profit Rises as Oil Prices Climb

By Connor Hart

ConocoPhillips reported higher profit in the recent quarter, boosted by a 32% jump in average realized oil prices.

The oil and natural-gas company on Thursday posted a third-quarter profit of about $4 billion, or $3.34 a share, compared with $1.73 billion, or $1.38 a share, a year earlier.

Stripping out certain one-time items, earnings came in at $3.27 a share. Analysts polled by FactSet expected adjusted earnings of $3.05 a share.

Production for the recent quarter was 2.3 million barrels of oil equivalent per day, in line with Wall Street's expectations and marking a decrease of 97,000 barrels a day from the same period the year before.

After adjusting for closed acquisitions and dispositions, production fell by 40,000 barrels a day, or about 2%, from last year.

The company attributed its higher earnings in part to pricing, as the total average realized price per barrel of oil equivalent came out to $61.40, a 32% increase from a year prior.

Looking ahead, ConocoPhillips said it anticipates fourth-quarter production of 2.32 million to 2.36 million barrels of oil equivalent per day. That compares with analyst views for 2.35 million.

ConocoPhillips additionally raised its quarterly ordinary dividend by 11%, to 93 cents a share. The higher payout will go into effect with the company's fourth-quarter dividend, payable Dec. 1 to shareholders of record as of Nov. 16, it said.

Shares were up 1.5% to $139.03 in premarket trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 05, 2026 08:09 ET (13:09 GMT)