| COP |
Report |
2Q26 adjusted EPS |
BEAT |
pred ~$3.08 vs. cons $2.96 |
MEDIUM |
| COP |
Report |
2Q26 total production |
IN-LINE |
pred ~2.205 MMBOED vs. cons 2.200 MMBOED |
HIGH |
| COP |
Report |
2Q26 cash from operations excluding working capital |
BEAT |
pred ~$6.85B vs. cons $6.75B |
LOW |
| COP |
Guide |
3Q26 total production guidance |
LOWER |
guide ~2.27 MMBOED vs. cons 2.34 MMBOED (3Q26) |
MEDIUM |
| COP |
Guide |
Full-year production guidance midpoint |
LOWER |
guide ~2.295 MMBOED vs. cons 2.310 MMBOED (FY26) |
MEDIUM |
| COP |
Guide |
Full-year capital spending guidance midpoint |
UNCHANGED |
guide ~$12.25B vs. cons $12.25B (FY26) |
HIGH |
| COP |
Guide |
Full-year adjusted operating-cost guidance |
BETTER |
guide ~$10.0B vs. cons $10.2B (FY26) |
MEDIUM |
| COP |
Guide |
Qatar production contribution |
LOWER |
guide ~20 MBOED vs. cons 40 MBOED (3Q26) |
LOW |
| COP |
Return |
Day-1 residual (stock − beta × S&P 500) |
+1.2% |
— |
MEDIUM |
| COP |
Return |
5-day cumulative residual |
+0.3% (FADE) |
The 2Q26 adjusted-EPS beat of ~$3.08 vs. $2.96 is likely to drive an initially positive reaction, but 3Q26 production guidance of ~2.27 MMBOED vs. 2.34 MMBOED and FY26 production of ~2.295 MMBOED vs. 2.310 MMBOED imply Qatar-related out-period estimate cuts that should absorb most of the day-1 gain. |
MEDIUM |