Why ConocoPhillips Shares Are Hitting New 52-Week Highs Thursday

ConocoPhillips COP shares are trading about 7% higher at $135.41 per share Thursday afternoon after the company reported third-quarter financial results.

The company reported quarterly earnings of $3.60 per share which missed the analyst consensus estimate of $3.74.

ConocoPhillips also raised its quarterly dividend by 11% to $0.51 per share and raised its existing share repurchase authorization by $20 billion.

The company also raised its 2022 operating capital guidance to $8.1 billion versus the prior guidance of $7.8 billion.

According to data from Benzinga Pro, COP set a new 52-week high of $136.12 and has a 52-week low of $72.02.

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!