ConocoPhillips Q2 Profit Doubles to $3.93B on Higher Prices, Guides Q3 Production Up
COP sits 36% above its 52-week low of $85.57.
Summary
ConocoPhillips reported Q2 net earnings of $3.93 billion ($3.23/share), more than doubling last year's $1.97 billion, driven by a 36% jump in realized prices to $62.33/BOE despite a 143 MBOED production decline. Revenue climbed to $19.52 billion from $14.74 billion. The company guided Q3 production to 2.29-2.32 MMBOED, a sequential increase, and declared a $0.84/share dividend. This follows the July completion of $1.7 billion in asset sales, hitting the $5 billion divestiture target ahead of schedule. Full-year 2026 guidance remains unchanged, signaling confidence in the outlook.
At the time of this announcement, COP was trading at $116.62 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $140.2B. The 52-week trading range was $85.57 to $135.87. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.