08:00 AM EDT, 10/31/2024 (MT Newswires) -- ConocoPhillips ( COP ) reported Q3 adjusted earnings Thursday of $1.78 per diluted share, down from $2.16 a year earlier.

Analysts polled by Capital IQ expected $1.64.

Revenue for the quarter ended Sept.30 was $13.60 billion, down from $14.87 billion a year earlier.

Analysts surveyed by Capital IQ expected $13.57 billion.

ConocoPhillips ( COP ) said it now expects 2024 production to be 1.94 to 1.95 million barrels of oil equivalent per day, up from its prior guidance of 1.93 to 1.94 mmboe per day.

The company raised its quarterly ordinary dividend to $0.78 a share, from $0.58, payable Dec. 2 to shareholders of record as of Nov. 11.

Additionally, ConocoPhillips ( COP ) said its board has approved to expand the existing share buyback program authorization by up to $20 billion.

Shares of the company were up more than 2% in recent Thursday premarket activity.

Price: 105.17, Change: +2.19, Percent Change: +2.13