ConocoPhillips reported mixed financial results for Q2 2025, showing growth in sales and revenue but a decline in net income and earnings per share. Despite this, the company's share price increased by 5% over the previous quarter, supported by a stable production outlook, a declared dividend, and strategic partnerships and asset sales discussions. The company reaffirmed its 2025 production guidance and announced plans to return $10 billion to shareholders. While it underperformed the broader U.S. market and U.S. Oil and Gas industry over the past year, its long-term total return of 171.45% over five years reflects strong historical performance. The current share price of $92.60 is 26.1% below the analyst price target of $116.74, suggesting potential undervaluation.

ConocoPhillips announced the sale of its Anadarko Basin assets to Flywheel Energy for $1.3 billion, part of a broader strategy to reduce debt and focus on higher-margin basins following its $22.5 billion acquisition of Marathon Oil. The asset sale, expected to close in the first quarter of 2025, contributes to the company's goal of raising $5 billion in asset sales by 2026 and unlocking $1 billion in cost and margin improvements. The transaction was advised by Haynes Boone. The sale follows over $1 billion in asset disposals since the Marathon Oil acquisition closed in November. ConocoPhillips reported strong second-quarter performance with 2.39 million barrels of oil equivalent per day (boepd) production, adjusted earnings per share of $1.42, and adjusted revenue of $15 billion, beating analyst estimates. The company expects to generate over $7 billion in incremental free cash flow by 2029 and maintains a bullish outlook on natural gas amid rising global LNG demand despite a 19% drop in average realized prices to $45.77 per barrel oil equivalent.

ConocoPhillips reported Q2 2025 earnings exceeding expectations, with EPS of $1.42 vs. forecasted $1.38 and revenue of $15 billion vs. $14.91 billion. The company completed the integration of Marathon Oil, reported increased resource estimates in the Permian Basin, and saw its stock rise premarket. A long-term bullish outlook for oil and gas demand was noted.

ConocoPhillips reported strong second-quarter production of 2,391,000 barrels of oil equivalent per day, with 1,508,000 BOE from the Lower 48 States and 883,000 BOE from Alaska and international operations. CEO Ryan Lance stated the company expects to achieve $7 billion in free cash flow by 2029 under a $60–$70 per barrel WTI price environment, driven by major projects including liquefied natural gas (LNG) initiatives in Qatar, Port Arthur, and the Willow Project in Alaska. The company has completed the integration of Marathon Oil and has realized over $2 billion in synergies, with additional cost and margin enhancements totaling more than $1 billion. ConocoPhillips also announced a $1.3 billion sale of its Anadarko Basin asset and raised its total asset disposition target to $5 billion. The company returned $4.7 billion to shareholders in the first half of the year through dividends and buybacks, ending the quarter with $6.8 billion in cash and liquid investments. Lance emphasized the company's strong U.S. inventory position and leadership in the U.S. shale sector, highlighting its focus on long-cycle LNG and Alaska projects to deliver sustainable free cash flow growth.

ConocoPhillips, based in Houston, has agreed to sell its Anadarko basin operations to Stone Ridge Energy for $1.3 billion. The divestiture includes assets producing approximately 40,000 boe/d and is part of a broader strategy to capitalize on the integration of Marathon Oil Corp. acquired in November 2024. The company initially targeted $2 billion in asset sales, which has now been exceeded, with an additional $2.5 billion in dispositions planned. ConocoPhillips' production in the Lower 48 rose to 761,000 b/d of oil and 1,508,000 boe/d in Q2 2025, up from 575,000 b/d in Q2 2024, driven by synergies from the Marathon acquisition. Executives reported that synergies have more than doubled their original $500 million forecast. The company expects total production to remain stable at around 2.35 million boe/d in Q3 and slightly higher for the full year. Shares of ConocoPhillips (COP) were trading at $93.50 on August 8, 2025, with a market capitalization of approximately $117 billion.