COP · Earnings call · 2026Q3T · Full report

Capital Return Program

CONOCOPHILLIPS · 2026-11-05 · Importance 74 · Surprise 58 · In source text

ConocoPhillips returned $3.4 billion to shareholders in the third quarter, including $2.4 billion of share repurchases and $1 billion of ordinary dividends. Management announced an 11% increase in the quarterly dividend and said the company remains on track to return 45% of CFO to shareholders in 2026. Buybacks are expected to trend higher in the fourth quarter, and management said the company has averaged a 45% CFO distribution over the past decade.

Key facts

• CONOCOPHILLIPS expected its 2027 objective to be returning 45% of CFO to shareholders.
• CONOCOPHILLIPS was on track to return 45% of CFO to shareholders in 2026 and expected fourth-quarter buybacks to trend higher.
• CONOCOPHILLIPS returned $3.4 billion to shareholders in the third quarter of 2026.
• CONOCOPHILLIPS returned $3.4 billion to shareholders in the third quarter, including $2.4 billion of buybacks.
• CONOCOPHILLIPS reported $1 billion of ordinary dividends and $2.4 billion of share repurchases in the third quarter, for total shareholder distributions of $3.4 billion.
• CONOCOPHILLIPS increased its quarterly dividend by 11% in the third quarter of 2026.
• CONOCOPHILLIPS averaged a 45% distribution of CFO over the last decade and expected to seek a similar level going forward, particularly as its reinvestment rate declines.
• CONOCOPHILLIPS’ buybacks currently retire about 4% to 5% of its shares each year.

Impact estimates