COP
SP100NYSEConocoPhillips
Energy · Oil & Gas E&P · United States
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids. It operates in five segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; and Asia Pacific. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects. It serves in the United States, Canada, China, Equatorial Guinea, Libya, Malaysia, Norway, Singapore, the United Kingdom, and internationally. ConocoPhillips was founded in 1917 and is headquartered in Houston, Texas.
www.conocophillips.com ↗Shares trade at a moderate 17.8× trailing earnings, easing to 11.4× on forward estimates. Profitability shows a net margin of 12.3% and return on equity of 11.3%. Leverage is modest at 0.7× net debt/EBITDA. Revenue grew -5.3% year-on-year. It yields 3.2% in dividends. The mean analyst target of USD143.12 sits 36.7% above the current price (Buy, 25 analysts).
business model
ConocoPhillips is one of the largest independent exploration and production (E&P) companies, focused on finding, developing, and producing crude oil, natural gas, and natural gas liquids. Unlike integrated majors, it concentrates on upstream operations, so its results are driven mainly by production volumes and commodity prices.
revenue segments
Revenue comes from upstream oil and gas production across a geographically diversified portfolio, including US unconventional (Permian, Eagle Ford, Bakken) assets, Alaska, and international operations, plus a growing LNG position. Production mix spans crude oil, natural gas, natural gas liquids, and bitumen.
key dependencies
The company depends on crude oil and natural gas prices, low-cost reserves and drilling efficiency, capital discipline, reserve replacement, and returning cash to shareholders through dividends and buybacks; commodity prices are the dominant variable.
competitors
Competitors include other large E&P and integrated oil companies such as ExxonMobil, Chevron, EOG Resources, Occidental, Devon Energy, and Pioneer/other shale producers, all competing for acreage, capital efficiency, and returns.
moat
ConocoPhillips's advantages are a large, diversified, low-cost-of-supply resource base, scale and operational efficiency in shale, a strong balance sheet, and disciplined capital allocation rather than a durable structural moat in a commodity business.
risks
The principal risk is volatile oil and gas prices, along with global supply/demand shifts, regulatory and environmental restrictions, the long-term energy transition reducing hydrocarbon demand, geopolitical exposure in international assets, and cost inflation.
Financials & metrics
as of 26 Aug 2026Price is closer to the high end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
Tap any metric for an explanation.● provider● computedN/A not available from source
Valuation history is being recorded
We snapshot P/E and price targets daily. This chart fills in over the coming days.
Full financial statements
Income statement
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total revenue | $58.94B | $54.74B | $56.14B | $78.49B | — |
| Cost of revenue | $44.16B | $38.36B | $37.94B | $48.48B | — |
| Gross profit | $14.79B | $16.38B | $18.20B | $30.01B | — |
| Operating expense | $3.45B | $3.60B | $3.18B | $4.55B | — |
| Operating income | $11.34B | $12.78B | $15.03B | $25.46B | — |
| Interest expense | $1.23B | $1.11B | $1.06B | $1.05B | — |
| Pretax income | $12.66B | $13.67B | $16.29B | $28.23B | — |
| Tax provision | $4.67B | $4.43B | $5.33B | $9.55B | — |
| Net income | $7.99B | $9.24B | $10.96B | $18.68B | — |
| EBITDA | $25.57B | $24.43B | $25.78B | $37.13B | — |
| Diluted EPS | $6.35 | $7.81 | $9.06 | $14.57 | — |
Balance sheet
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | $121.94B | $122.78B | $95.92B | $93.83B | — |
| Current assets | $15.53B | $15.65B | $14.33B | $18.75B | — |
| Cash & equivalents | $6.50B | $5.61B | $5.63B | $6.46B | — |
| Inventory | $1.87B | $1.81B | $1.40B | $1.22B | — |
| Total liabilities | $57.45B | $57.98B | $46.65B | $45.83B | — |
| Current liabilities | $11.97B | $12.12B | $10.01B | $12.85B | — |
| Total debt | $23.44B | $24.32B | $18.94B | $16.64B | — |
| Long-term debt | $21.93B | $22.64B | $17.02B | $15.19B | — |
| Shareholders' equity | $64.49B | $64.80B | $49.28B | $48.00B | — |
| Retained earnings | $68.86B | $64.87B | $59.27B | $53.03B | — |
| Working capital | $3.56B | $3.52B | $4.33B | $5.90B | — |
Cash flow
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | $19.80B | $20.12B | $19.96B | $28.31B | — |
| Investing cash flow | -$8.84B | -$11.15B | -$12.00B | -$8.74B | — |
| Financing cash flow | -$10.10B | -$8.84B | -$8.66B | -$18.05B | — |
| Capital expenditure | -$12.55B | -$12.12B | -$11.25B | -$10.16B | — |
| Free cash flow | $7.24B | $8.01B | $8.72B | $18.16B | — |
| Dividends paid | -$4.00B | -$3.65B | -$5.58B | -$5.73B | — |
| Share buybacks | -$5.12B | -$5.54B | -$5.45B | -$9.27B | — |
| End cash position | $6.92B | $5.91B | $5.90B | $6.69B | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
Analyst assessment
as of 26 Aug 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 25 Aug 2026News
Sector peers
Other Energy names by market cap.
Compare side by side →Notes & alerts
Sign in to keep a private research note and set price alerts for COP.