COP · 10-Q · 2026Q3 · Full report
Capital Return Program
CONOCOPHILLIPS · 2026-11-05 · Importance 50 · Surprise 24 · No source text
ConocoPhillips returned $5.4 billion through share repurchases and paid $3.1 billion in ordinary dividends during the first nine months of 2026. It repurchased 45.6 million shares for $5.4 billion in that period; cumulative repurchases since the current program began totaled 531.7 million shares and $44.7 billion at September 30, 2026, under an aggregate authorization capped at $65 billion. The company paid ordinary dividends of $2.52 per share in the first nine months of 2026, compared with $2.34 per share in 2025. In November 2026, it raised the quarterly ordinary dividend 11 percent, from $0.84 to $0.93 per share, payable December 1 to shareholders of record November 16, 2026.
Key facts
- ConocoPhillips repurchased $5.407 billion of its common stock in the nine months ended September 30, 2026, compared with $3.996 billion in 2025. source
- In November 2026, CONOCOPHILLIPS declared an 11% increase in its quarterly ordinary dividend, from $0.84 to $0.93 per share, payable December 1, 2026, to shareholders of record November 16, 2026. source
- In November 2026, ConocoPhillips increased its quarterly ordinary dividend from $0.84 to $0.93 per share, an 11 percent increase. source
- ConocoPhillips raised its quarterly ordinary dividend by 11% to $0.93 per share, consistent with its top-quartile S&P 500 growth objective. source
- As of September 30, 2026, repurchases under CONOCOPHILLIPS’s current program totaled 531.7 million shares and $44.7 billion; in the first nine months of 2026, it repurchased 45.6 million shares for $5.4 billion. source
- ConocoPhillips paid $3.064 billion in dividends in the nine months ended September 30, 2026, compared with $2.957 billion in 2025. source
- CONOCOPHILLIPS anticipated returning more than 30% of cash from operating activities through cycles under its capital-return framework. source
- CONOCOPHILLIPS’s share-repurchase authorization was increased in October 2024 from $45 billion by the lesser of $20 billion or the number of shares issued in the Marathon Oil acquisition, with aggregate repurchases capped at $65 billion. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -6.9% | CONOCOPHILLIPS’s share-repurchase authorization was increased in October 2024 from $45 billion by the lesser of $20 billion or the number… |
| cash | negative | realized | -4.3% | As of September 30, 2026, repurchases under CONOCOPHILLIPS’s current program totaled 531.7 million shares and $44.7 billion; in the first… |
| cash | negative | realized | -1.1% | ConocoPhillips repurchased $5.407 billion of its common stock in the nine months ended September 30, 2026, compared with $3.996 billion in… |
| cash | negative | realized | -0.1% | ConocoPhillips paid $3.064 billion in dividends in the nine months ended September 30, 2026, compared with $2.957 billion in 2025. |
| cash | negative | committed | — | In November 2026, CONOCOPHILLIPS declared an 11% increase in its quarterly ordinary dividend, from $0.84 to $0.93 per share, payable… |
| cash | negative | contingent | — | CONOCOPHILLIPS anticipated returning more than 30% of cash from operating activities through cycles under its capital-return framework. |