8-K
filed February 8, 2024, 6:59 PM ET
ticker COP
CIK 0001163165
earnings
confidence high
sentiment negative
materiality 0.75
ConocoPhillips Q4 2023 adjusted EPS $2.40 vs $2.71 YoY; FY 2024 return of capital target $9B
CONOCOPHILLIPS
2023-FY EPS reported
$9.06
revenue$56,141,000,000
- Q4 2023 adjusted earnings $2.9B ($2.40/share) vs Q4 2022 adjusted $3.4B ($2.71/share); GAAP EPS $2.52.
- Full-year 2023 production record 1,826 MBOED, up 4% YoY; avg realized price $58.39/BOE, down 27%.
- 2023 CFO $21.3B; returned $11B to shareholders (dividends, VROC, buybacks).
- 2024 return of capital target $9B; quarterly dividend $0.58/share + VROC $0.20/share, payable March 1.
- 2024 capex guidance $11.0-11.5B; production guidance 1.91-1.95 MMBOED; preliminary reserve replacement 123%.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
CONOCOPHILLIPS reported full-year 2023 results: revenue 58.39 per BOE, net income 11.0 billion, EPS 9.06 per share.
- Period
- full-year 2023
- Revenue
- 58.39 per BOE
- Net income
- 11.0 billion
- EPS
- 9.06 per share
- Result
- reported results
Exact text from the filing
including the reversal of a tax reserve. Adjusted earnings decreased due to lower prices, partially offset by higher volumes. The company’s total average realized price was $58.21 per BOE, 18% lower than the $71.05 per BOE realized in the fourth quarter of 2022. For the quarter, cash provided by operating activities was $5.3 billion. Excluding a $0.2
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
CONOCOPHILLIPS reported fourth-quarter 2023 results: revenue 58.21 per BOE, net income 3.0 billion, EPS 2.52 per share.
- Period
- fourth-quarter 2023
- Revenue
- 58.21 per BOE
- Net income
- 3.0 billion
- EPS
- 2.52 per share
- Result
- reported results
Exact text from the filing
including the reversal of a tax reserve. Adjusted earnings decreased due to lower prices, partially offset by higher volumes. The company’s total average realized price was $58.21 per BOE, 18% lower than the $71.05 per BOE realized in the fourth quarter of 2022. For the quarter, cash provided by operating activities was $5.3 billion. Excluding a $0.2
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CONOCOPHILLIPS updated its 2024 guidance (reaffirmed).
- Period
- 2024
- Guidance
- reaffirmed
- Result
- guidance update
Exact text from the filing
ConocoPhillips announced its 2024 planned return of capital to shareholders of $9 billion. The company declared an ordinary dividend of $0.58 per share and a VROC of $0.20 per share, both payable March 1, 2024, to stockholders of record at the close of business on Feb. 19, 2024.
View on SEC.gov
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