Movement Alert|ConocoPhillips Rises 3.06% in Regular Trading, UBS Cites Strong Operations Offsetting Middle East and Surmont Headwinds

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On October 8, ConocoPhillips rose 3.06% in regular trading, trading at $133.81 per share, with turnover of $151 million. The move came as UBS said the company's strong operations are likely to offset disruptions in the Middle East and lower volumes at its Surmont asset, while also expecting an acceleration in share repurchases to meet its 2026 shareholder return commitment. UBS forecasts third-quarter adjusted EPS of $3.10, above the consensus estimate of $2.96, and projects buybacks of $2.5 billion in the third quarter and $2.75 billion in the fourth quarter.

Within the Oil & Gas Exploration & Production sector, the overall group traded higher. Diamondback Energy rose 3.08%, EOG Resources gained 2.34%, Devon Energy advanced 1.82%, EQT Corp added 0.86%, while Crescent Energy declined 3.93%. ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, LNG, and natural gas liquids in the United States and internationally.

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