Skip to content
AnalystLens

ConocoPhillipsCOP

Sector
Energy
Industry
Petroleum Refining
Exchange
NYSE

Stock Price $COP

Latest filings

You are here#3 of 32 in Energy by market cap

Filing record · 2016–202610-K1110-Q338-K108

COP filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 108 current reports (8-K) between 2016 and 2026.

  1. Impairment8-K · Jun ’17Jun ’17
  2. FY2018 annual report10-K · Feb ’19Feb ’19
  3. Deal closed8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Jul ’25Jul ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $58.94B
YoY changeLargest recent move+144.0%in FY21Latest +7.7%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All COP Financial Metrics59 metrics

Income Statement16

Balance Sheet25

Cash Flow13

Per Share5

02—Overview

ConocoPhillips Financial Overview 2021–2025

Updated Nov 3, 2026

In FY2025, ConocoPhillips distributed 46% of its operating cash flow directly to shareholders, returning $9.0 billiona in a single year. This capital discipline underscores the company's core investment thesis: aggressive, scale-building acquisitions can be successfully converted into sustained cash generation across volatile commodity cycles. Driven by the integrations of Concho Resources, Shell’s Permian assets, and the $22.5 billion Marathon Oil merger, total daily production grew from 1,567 MBOED in FY2021 to 2,375 MBOED in FY2025.

The operational leverage from this expanded footprint is evident in the underlying financials. Despite fluctuating oil prices, ConocoPhillips generated $19.8 billionb in cash from operations during FY2025, supported by over $1 billion in run-rate synergies realized from the Marathon Oil integration. Management actively optimized this portfolio, completing $3.2 billion in noncore asset divestitures over the same year. This cash-flow generation funded an 8% increase in the ordinary dividend. The market has weighed this M&A-driven growth against broader commodity swings; after posting an earnings per share of $7.81 in FY2024, the stock traded at $93.61 at the close of FY2025.

Recent Developments (Q1 and Q2 2026)

Higher crude prices drove a sharp Q2 2026 rebound. Net income reached $3.93 billionc, up from $1.97 billion a year earlier, after Q1 2026 net income fell to $2.18 billion from $2.85 billion. Realized prices rose 36% year over year to $62.33 per BOE. Production slipped to 2,248 MBOED from 2,391 MBOED, hurt by Middle East disruption in Qatar. ConocoPhillips hit its $5 billion disposition target early and agreed to take a 42% stake in Iraq's Kirkuk JV. On September 1, 2026, CFO Andy O'Brien succeeds Ryan Lance as CEO.

Bull case: higher prices lifted first-half operating cash flow to $11.7 billion, and buybacks doubled to $2.0 billiond in Q2 2026. Bear case: volumes are falling, and Middle East exposure in Qatar, Iraq and Syria adds geopolitical risk. The stock traded at $116.76, or 18.4x earnings, as of the Q2 2026 filing date of August 5, 2026, not today.

What to watch: Q3 production against the 2.29–2.32 MMBOED guidance; O'Brien's first quarter as CEO and the Kirkuk closing

03—Filings

Recent SEC Filings

  1. 8-KConocoPhillips 8-K Report, Executive Changes (Aug 11, 2026)ConocoPhillips (COP) filed an 8-K on August 11, 2026 disclosing a planned CEO succession and related finance leadership changes, all effective September 1, 2026. Andy O'Brien, currently Executive Vice President, Strategy, Commercial and Chief Financial Officer, was elected President and CEO and a board member on August 6, 2026. Ryan Lance, who has led the company for 14 years, will retire as CEO and become Executive Chair of the Board in a transitional role. The filing is a governance and leadership event rather than a financial-results or operational disclosure, so it contains no new earnings, production, or guidance figures. The finance team is also changing. Konnie Haynes-Welsh, currently Vice President, Finance and Controller, becomes Senior Vice President and CFO, and Greig Patterson moves from Vice President, Corporate Planning & Development to Vice President, Finance and Controller. Because O'Brien is moving from CFO to CEO, the CFO transition is a planned internal handoff rather than an external search, which supports continuity. Compensation changes are notable: O'Brien's base salary is $1.7 million with a 160% VCIP target and a $13.08 million long-term incentive target, and Lance's base salary is cut to $1.1 million with his long-term incentive target reduced to $12.4 million and no annual incentive participation. For investors, the key takeaways are that the succession was planned and internally sourced, that the strategic direction is framed as continuity (O'Brien cites building on existing momentum and free cash flow growth), and that the company is retaining its former CEO in an executive chair role during the transition. The filing does not disclose any strategic change, acquisition, or financial impact, so the near-term effect on the investment thesis is likely limited, though investors may watch for early signals on capital allocation priorities under the new CEO.
  2. 8-KConocoPhillips 8-K Report, Financial Results (Aug 6, 2026)ConocoPhillips reported second-quarter 2026 earnings of $3.9 billion, or $3.23 per share, versus $2.0 billion, or $1.56 per share, a year earlier. Excluding special items, adjusted earnings were $4.0 billion, or $3.24 per share, compared with $1.8 billion, or $1.42 per share, in Q2 2025. Earnings growth was driven primarily by a 36% increase in the company's realized price to $62.33 per BOE. Cash provided by operating activities was $7.4 billion, and cash from operations (a non-GAAP measure excluding working capital changes) was $7.2 billion. Shareholder distributions doubled in the quarter to $3.0 billion, including $2.0 billion of buybacks and $1.0 billion of ordinary dividends. The company declared a third-quarter dividend of $0.84 per share and says it is on track for a 45% return of CFO in 2026. Production was 2,248 MBOED, down 143 MBOED year over year, or 98 MBOED (4%) on a pro forma basis after adjusting for dispositions. Lower 48 growth was more than offset by the Middle East conflict's impact on Qatar and higher Surmont royalties. Management reaffirmed all full-year guidance items and guided third-quarter 2026 production to 2.29 to 2.32 million BOE per day. Strategic progress included achieving the $5 billion asset disposition target ahead of schedule with $1.7 billion of Lower 48 noncore sales (closed in July), signing agreements for a 42% stake in a Kirkuk joint venture in Iraq (closing expected by year-end 2026), agreeing to re-enter Syria, and expanding LNG offtake to 12 MTPA. Management reiterated a $7 billion free cash flow inflection target by 2029. The quarter's results were materially supported by commodity prices, with Q2 WTI averaging $92.79/BBL versus $63.74 a year earlier. Investors should weigh the strong earnings and return-of-capital momentum against the year-over-year production decline and the geopolitical exposure highlighted in the Middle East and Qatar disclosures. Total debt was $23.3 billion at a 26% debt-to-capital ratio, and the share count fell to 1,201 million at June 30, 2026.
  3. 8-KConocoPhillips 8-K Report, Executive Changes (Jun 23, 2026)ConocoPhillips (COP) announced a significant leadership transition on June 23, 2026, via an 8-K filing. Kelly B. Rose, the company's Senior Vice President, Legal, General Counsel, and Corporate Secretary, has informed the company of her decision to retire. Her retirement will be effective September 1, 2026. This announcement marks the departure of a key executive who has held a critical role in the company's legal and corporate governance functions. While a specific replacement has not yet been named, investors will be keenly awaiting this information. The timing of the succession and the qualifications of the new appointee will be important factors for the market to assess the continuity of ConocoPhillips' legal and corporate strategies.
  4. 8-KConocoPhillips 8-K Report, Shareholder Vote Results (May 14, 2026)This 8-K filing reports on the outcomes of ConocoPhillips' (COP) annual meeting of stockholders held on May 12, 2026. All key proposals presented to shareholders received majority approval. Notably, all 13 nominated directors were elected to serve one-year terms, indicating strong shareholder confidence in the current board's leadership and governance. The appointment of Ernst & Young LLP as the independent registered public accounting firm for 2026 was also overwhelmingly ratified, reinforcing the company's commitment to robust financial oversight. Furthermore, shareholders provided an advisory vote of approval for the compensation of the company's Named Executive Officers, suggesting alignment between executive pay and shareholder interests. However, a shareholder proposal to separate the roles of Chairman and CEO was not approved. This indicates that a majority of voting shares (excluding broker non-votes) did not support this specific governance change at this time.
  5. 8-KConocoPhillips 8-K Report, Financial Results (Apr 30, 2026)ConocoPhillips (COP) reported first-quarter 2026 GAAP earnings of $2.2 billion, or $1.78 per diluted share, down from $2.8 billion, or $2.23 per share, in the first quarter of 2025. Excluding special items, adjusted earnings were $2.3 billion, or $1.89 per share, versus $2.7 billion, or $2.09 per share, a year earlier. The decline was driven primarily by lower Permian gas prices and lower volumes, partially offset by lower costs. Realized prices fell 6% to $50.36 per BOE. Cash provided by operating activities was $4.3 billion, and cash from operations (CFO, a non-GAAP measure excluding a $1.1 billion working capital outflow) was $5.4 billion. Production totaled 2,309 MBOED, down 80 MBOED year over year, but only 14 MBOED (about 1%) after adjusting for divestitures. Organic Lower 48 growth was offset by downtime, including Middle East conflict impacts on Qatar, and higher Surmont royalties. The company distributed $2.0 billion to shareholders in the quarter ($1.0 billion buybacks and $1.0 billion dividends), declared a $0.84 per share second-quarter dividend, and reiterated its objective to return 45% of CFO to shareholders in 2026. Guidance was updated. Second-quarter production is expected at 2.185 to 2.215 MMBOED, excluding Qatar. Full-year production is 2.295 to 2.325 MMBOED, reflecting a 20 MBOED Qatar adjustment and a 15 MBOED Surmont royalty adjustment tied to higher oil prices. Full-year capital spending is now $12.0 to $12.5 billion, including incremental Permian activity. Operating cost guidance is unchanged. Special items this quarter were a net $141 million after-tax charge, primarily for pending claims and settlements and a loss on a contingent liability tied to the Surmont acquisition.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.