ConocoPhillips (NYSE:COP – Get Free Report) released its quarterly earnings data on Thursday. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.34, Zacks reports. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $14.90 billion. During the same quarter last year, the business posted $2.09 EPS. The business’s revenue was down 6.1% on a year-over-year basis.
Here are the key takeaways from ConocoPhillips’ conference call:
- Strong first-quarter cash generation with $2.4 billion of free cash flow, $5.4 billion of CFO and $2 billion returned to shareholders (US$1B dividend, US$1B buybacks), and management reiterates its commitment to return 45% of CFO to shareholders.
- Material operational progress in Alaska and the Lower 48 — Willow is reported ~50% complete (gravel/planner scope finished and fuel/power connections imminent) and the company completed a 4‑well exploration program that management says strengthens the long‑term low‑cost supply outlook and supports the $7B free‑cash‑flow inflection by 2029.
- LNG commercialization and assets de‑risking — Port Arthur LNG remains on track for first LNG next year and a third‑party tolling agreement in Equatorial Guinea extends the life of EG LNG into the 2030s, which management says benefits from a structurally tighter global LNG market.
- Updated 2026 framework reflects geopolitical uncertainty: midpoint production guidance moved to ~2.31 MMboe/d (Q2 midpoint ~2.20 MMboe/d excluding Qatar), CapEx guidance tightened to $12–12.5 billion (modest +$250M midpoint for added Permian activity), and management remains largely unhedged on oil and LNG, leaving exposure to macro volatility.
ConocoPhillips Stock Down 1.7%
Shares of NYSE:COP traded down $2.15 during trading on Thursday, hitting $126.10. The stock had a trading volume of 11,943,042 shares, compared to its average volume of 8,159,807. ConocoPhillips has a 12 month low of $84.28 and a 12 month high of $135.87. The company has a market capitalization of $153.69 billion, a PE ratio of 19.89, a PEG ratio of 1.81 and a beta of 0.19. The firm’s fifty day moving average is $122.17 and its 200 day moving average is $104.22. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35.
ConocoPhillips Dividend Announcement
Trending Headlines about ConocoPhillips
Here are the key news stories impacting ConocoPhillips this week:
- Positive Sentiment: Q1 results beat expectations: COP reported $1.89 adj. EPS and revenue above Street estimates, driven by cost control and stronger per‑unit margins — a reason some investors see the business as resilient. ConocoPhillips Q1 EPS beats estimates; shares fall on Qatar output cut
- Positive Sentiment: Dividend and shareholder returns: Management declared a $0.84 quarterly dividend (yield ~2.7%) and reiterated cash‑return priorities, which supports income‑oriented and total‑return investors. ConocoPhillips announces first-quarter 2026 results and quarterly dividend
- Positive Sentiment: Analyst support: Morgan Stanley raised its price target to $149 (overweight) and Zacks upgraded COP to strong‑buy — analyst upgrades can bolster confidence and provide buying interest. Morgan Stanley adjusts ConocoPhillips price target to $149 from $108; maintains overweight
- Neutral Sentiment: Management commentary on geopolitics and supply: Executives warned of potential “critical shortages” of oil ahead and discussed Middle East impacts on the global market — this is directional for oil prices but uncertain in timing and magnitude. ConocoPhillips Sees ‘Critical Shortages’ of Oil on Horizon
- Neutral Sentiment: Earnings call details: Management highlighted Willow project progress and reiterated capital discipline; investors will watch execution updates and capital‑allocation cadence on future calls. ConocoPhillips (COP) Q1 2026 Earnings Transcript
- Negative Sentiment: Production guidance trimmed / Qatar volumes excluded: Management cut full‑year production targets (now ~2.3–2.33 mm bpd) and removed Qatar output from guidance because of regional disruptions — the guidance setback is the primary reason the stock sold off today. ConocoPhillips reports profits drop as production outlook trimmed
- Negative Sentiment: Market reaction to geopolitical risk: Several outlets note shares fell despite the beat because investors focused on the Qatar pullout and lower near‑term volumes — heightened volatility and higher trading volume accompanied the decline. ConocoPhillips Q1 EPS beats estimates; shares fall on Qatar output cut
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on COP shares. Piper Sandler increased their price objective on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Sanford C. Bernstein increased their price objective on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Jefferies Financial Group increased their target price on ConocoPhillips from $129.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. Capital One Financial increased their target price on ConocoPhillips from $116.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 26th. Finally, Mizuho increased their target price on ConocoPhillips from $121.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $132.44.
Get Our Latest Stock Report on COP
Insider Activity at ConocoPhillips
In related news, CEO Ryan Michael Lance sold 506,800 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $127.26, for a total transaction of $64,495,368.00. Following the completion of the transaction, the chief executive officer owned 6,835 shares of the company’s stock, valued at $869,822.10. This trade represents a 98.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kelly Brunetti Rose sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $118.04, for a total value of $1,003,340.00. Following the transaction, the senior vice president directly owned 32,984 shares of the company’s stock, valued at approximately $3,893,431.36. This trade represents a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 734,891 shares of company stock worth $93,345,692 over the last quarter. 0.09% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sepio Capital LP increased its position in ConocoPhillips by 2.8% during the 4th quarter. Sepio Capital LP now owns 3,795 shares of the energy producer’s stock valued at $355,000 after buying an additional 104 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in ConocoPhillips by 0.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 41,581 shares of the energy producer’s stock valued at $3,892,000 after buying an additional 122 shares in the last quarter. CYBER HORNET ETFs LLC increased its position in ConocoPhillips by 3.8% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 3,571 shares of the energy producer’s stock valued at $338,000 after buying an additional 131 shares in the last quarter. Sumitomo Life Insurance Co. increased its position in ConocoPhillips by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 13,180 shares of the energy producer’s stock valued at $1,234,000 after buying an additional 159 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. increased its position in ConocoPhillips by 2.6% during the 3rd quarter. Financial Engines Advisors L.L.C. now owns 7,118 shares of the energy producer’s stock valued at $673,000 after buying an additional 182 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.
The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.
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