---
schema_version: "secwatch.filing_event.v1"
accession: "0001163165-24-000004"
form_type: "8-K"
ticker: "COP"
cik: "0001163165"
company_name: "CONOCOPHILLIPS"
filed_at: "2024-02-08T23:59:59+00:00"
generated_at: "2026-06-06T05:21:50.326015+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ConocoPhillips Q4 2023 adjusted EPS $2.40 vs $2.71 YoY; FY 2024 return of capital target $9B

## Summary
- 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%.

## SEC filing metadata
- accession: 0001163165-24-000004
- form_type: 8-K
- ticker: COP
- cik: 0001163165
- company_name: CONOCOPHILLIPS
- filed_at: 2024-02-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1163165/000116316524000004/0001163165-24-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1163165/000116316524000004/cop-20240208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001163165-24-000004
- JSON: https://secwatch.observer/filing/0001163165-24-000004.json
- Plain text: https://secwatch.observer/filing/0001163165-24-000004.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163165/000116316524000004/0001163165-24-000004-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163165/000116316524000004/0001163165-24-000004-index.htm
- Earnings Releases
  CONOCOPHILLIPS updated its 2024 guidance (reaffirmed).
  - Period: 2024
  - Guidance: reaffirmed
  - Result: guidance update
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1163165/000116316524000004/0001163165-24-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.