Headquartered in Houston, TX Fiscal year ends December NYSE: COP conocophillips.com
ConocoPhillips (NYSE: COP) is a global exploration and production company that develops and sells crude oil, natural gas liquids, bitumen, natural gas and LNG. It reports six segments: Alaska, Lower 48, Canada, Europe/Middle East/North Africa, Asia Pacific, and Corporate and Other.
- **Lower 48:** The largest operation, producing 1,517 MBOED in Q3 2026 out of 2,302 MBOED in total. Output comes from the Delaware Basin, Midland Basin, Eagle Ford and Bakken.
- **Alaska:** Includes North Slope production and the Willow development, targeting first oil in early 2029.
- **Canada:** Includes Surmont oil sands bitumen and Montney-type liquids and gas output.
- **International:** Operations in Norway, Libya, Equatorial Guinea, China and Malaysia. The company also holds equity-affiliate interests, including Qatar LNG and the PALNG (Port Arthur LNG) Phase 1 investment.
- **LNG:** The commercial LNG offtake portfolio has expanded to 13 MTPA.
Revenue is driven mainly by commodity prices and production volumes. The company also markets purchased commodities. Its strategy emphasizes returns-focused capital discipline and returning about 45% of CFO to shareholders through dividends and buybacks. It is also pursuing noncore asset dispositions while targeting a multi-year free cash flow inflection. Updated
We also remain on track to deliver a peer-leading $7 billion free cash flow inflection by 2029. Importantly, 2029 is not the endpoint.
The CFO is anchoring ConocoPhillips to a cash flow target four years out, and telling holders the increase keeps running past it. On a $164.5 billion market cap, that incremental cash is the whole case for owning the shares through the next oil cycle.
Free cash flow hit $4.04 billion, enough to fund an 11% dividend raise to $0.93 per share. Management reaffirmed the 45% return-of-cash-flow target for 2026 and a $7 billion free cash flow inflection by 2029.
A 4.99% drop to $135.07 strips roughly $8 billion from a $162 billion major, and moves that size are rare for a name this large. Whether it holds this level into the close is the thing to watch.
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ConocoPhillips notched a new 52-week high at $151.37, topping the record it set just three sessions earlier by 0.38%. The stock has nearly doubled off its $83 low from a year ago.
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ConocoPhillips set a fresh 52-week high, clearing its September 15 peak by 0.79%. The $171 billion producer is back at the top of its range.
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ConocoPhillips (NYSE: COP) is a global exploration and production company that develops and sells crude oil, natural gas liquids, bitumen, natural gas and LNG.
24/7 Wall St.'s 12-month price target for COP is $141.61, rated Hold. The Wall Street consensus target is $151.56. COP price prediction →
