ConocoPhillips
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Range $128 – $189
Price Chart
About the company
ConocoPhillips is an energy company that engages in the global exploration, production, transportation, and marketing of various resources, including crude petroleum, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids (NGLs). Its primary operations are centered on both conventional and tight oil formations, shale gas, heavy crude, LNG developments, and oil sands projects. The company's extensive portfolio includes unconventional resources located in North America; established conventional assets spanning North America, Europe, Asia, and Australia; numerous LNG ventures; oil sands properties within Canada; and a significant inventory of potential conventional and unconventional exploration opportunities.
- CEO
- Ryan Lance
- IPO
- 1981
- Employees
- 9,600
- HQ
- Houston, TX, US
AI snapshot
Six angles, distilled from the data.
The stock is in a strong multi-month uptrend and pressing its 52-week high, with price well above both the 50-day and 200-day moving averages. That keeps the regime constructive, though the move is extended after a large run from the low-$80s area.
Street sentiment is constructive: consensus sits at Buy with an average target of 150.82, above the current share price. Recent target moves are mostly upward, including Raymond James to 168, Wells Fargo to 189, and UBS to 153, even as a few firms stayed cautious.
The earnings pattern is favorable, with 7 of the last 8 quarters beating estimates and the latest quarter topping by 9.5%. Next-year EPS is modeled at 9.5093 versus 7.56 TTM, so shareholders should watch whether upstream margins and production keep supporting that step-up.
Recent activity leans negative on discretionary trades, with several sales from senior executives and a director, including a large March sale by the CEO. The award and exempt transactions are routine compensation noise, but the cluster of open-market selling is the clearer signal.
Profitability is solid, with a 31.5% operating margin, 14.4% net margin, and 14.18% ROE. Growth is strong too, with revenue up 35.5% year over year and earnings up 107%, while free cash flow reached 22.8 billion on 19.8 billion of operating cash flow.
COP screens as a high-quality large-cap E&P with strong cash generation and a low 0.134 beta, which can make it less volatile than many energy peers. At 17.61x earnings, it trades at a premium-to-cyclical valuation profile, justified by scale and cash flow but not cheap.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $167.33B
- P/E
- 18.17
- Fwd P/E
- 13.25
- PEG
- 13.55
- P/S
- 2.64
- P/B
- 2.55
- EV/EBITDA
- 6.62
- Div Yield
- 2.45%
- Gross Margin
- 27.68%
- Op Margin
- 21.92%
- Net Margin
- 14.65%
- ROE
- 14.32%
- ROIC
- 7.85%
Latest fiscal year · YoY change
- Revenue
- $58.94B+7.7%
- Gross Profit
- $14.79B-9.7%
- Op Income
- $11.34B
- Net Income
- $7.99B-13.6%
- EPS
- $6.36-18.7%
- OCF Growth
- -1.6%
- FCF Growth
- +109.5%
- 52W High
- $138.89
- 52W Low
- $85.57
- 50D MA
- $122.74
- 200D MA
- $113.70
- Beta
- 0.13
- RSI (14)
- 67
- Avg Volume
- 7.01M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
ConocoPhillips delivered an operationally strong quarter, raised shareholder returns, and reinforced confidence in a 2029 free cash flow inflection as it also announced a CEO transition.· August 6, 2026
- Production of 2.248 million boe/d beat the high end of guidance, with record Permian output above 900 thousand boe/d.
- Adjusted earnings were $3.24 per share; cash flow from operations was $7.2 billion and free cash flow was $4.2 billion after $3 billion of capex.
- Shareholder distributions rose to $3 billion, including $2 billion of buybacks and $1 billion of ordinary dividends.
- Management said full-year guidance is unchanged, with 3Q production guided to 2.290-2.320 million boe/d.
- The company hit its $5 billion disposition target ahead of schedule, added 2 million tonnes per annum of LNG offtake, and said Iraq, Syria, Alaska, and LNG support the long-term plan.
ConocoPhillips reported 2.248 million barrels of oil equivalent per day of production, above the high end of guidance, and adjusted earnings of $3.24 per share. Cash flow from operations was $7.2 billion; after $3 billion of capex, free cash flow was $4.2 billion. Shareholder distributions totaled $3 billion, including $2 billion of share repurchases and $1 billion of ordinary dividends. The company ended the quarter with $8.1 billion of cash and short-term investments and $1.2 billion of liquid long-term investments. Full-year guidance was unchanged, and 3Q production is guided to 2.290 million to 2.320 million boe/d. Management said it remains on track for its $7 billion free cash flow inflection by 2029, with capital expected to move lower as Willow comes online in early 2029 and with the target of returning 45% of CFO to shareholders this year.
Ryan Lance used the call to announce his retirement effective September 1 and framed the handoff to Andy O'Brien as the result of a long-planned succession process. He said the company is in its strongest position yet, citing record Permian production, more than $4 billion of free cash flow, a rock-solid balance sheet, and progress on dispositions, LNG, and new international opportunities. His tone was confident and reflective, emphasizing continuity, a strong leadership bench, and belief that ConocoPhillips can keep outperforming through the cycle.
Andrew O'Brien said the quarter showed 'exceptional operational financial execution,' with production of 2.248 million boe/d, adjusted earnings of $3.24 per share, $7.2 billion of CFO, and $4.2 billion of free cash flow after $3 billion of capex. He noted $3 billion of shareholder distributions, split between $2 billion of buybacks and $1 billion of dividends, and quarter-end liquidity of $8.1 billion of cash and short-term investments plus $1.2 billion of liquid long-term investments. He said full-year guidance is unchanged, the company is targeting 45% of CFO returned to shareholders this year, and capital should trend lower as Willow peaks behind them and moves toward first oil in early 2029.
Analysts focused on why Lance is retiring now and how succession was planned, and Lance said the timing reflects a long-run process and his view that the company is strong enough to hand off. Questions also centered on Qatar outages, Willow capex, shareholder returns, and the new Iraq/Syria and LNG opportunities; management said Qatar uncertainty is captured in guidance, Willow capex has already peaked, and capital should come down as the project advances. On the newer international deals, O'Brien said Iraq and Syria are structured to be largely self-funding, with the Iraq acquisition capital expected to be $300 million to $500 million at close and no impact to the 2029 free cash flow inflection.
The call reinforced that ConocoPhillips is executing well operationally and financially, with record Permian production, strong free cash flow, and unchanged full-year guidance. Management repeatedly said the portfolio is strengthening through dispositions, LNG expansion, Alaska growth, and low-cost international opportunities, while capital should trend lower into the 2029 free cash flow inflection.
There is still uncertainty around Qatar ramp timing and throughput, and management said the third-quarter outlook includes a fair amount of uncertainty around the pace of recovery. The company also acknowledged that some of the recent Middle East activity is lumpy and should not be expected every quarter, while the market still may be skeptical that capex will fall enough to deliver the projected 2029 free cash flow step-up.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 99.8%
- Shares Outstanding
- 1.22B
- Float Shares
- 1.22B
of shares held by institutions
2,675 13F filers
Buy/sell ratio 1.50. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for COP, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Michael T. McCaulHouse · TX10 | Sell | Apr 1, 26 | Filing → |
| Gilbert Ray CisnerosHouse · CA31 | Buy | Feb 10, 26 | Filing → |
| Gilbert Ray CisnerosHouse · CA31 | Sell | Jan 8, 26 | Filing → |
| Gilbert Ray CisnerosHouse · CA31 | Sell | Jan 6, 26 | Filing → |
| Markwayne MullinSenate · OK | Buy | Dec 29, 25 | Filing → |
| Markwayne MullinSenate · OK | Buy | Dec 29, 25 | Filing → |
| Julie JohnsonHouse · TX32 | Sell | Dec 17, 25 | Filing → |
| Julie JohnsonHouse · TX32 | Sell | Nov 12, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Sell | Oct 30, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Buy | Oct 29, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Sell | Oct 29, 25 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Oct 24, 25 | Filing → |
| Val HoyleHouse · OR04 | Sell | Sep 22, 25 | Filing → |
| Michael T. McCaulHouse · TX10 | — | Mar 25, 24 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 120.25M | ▲ 408.30K |
| Blackrock, Inc. | 93.89M | ▲ 2.71M |
| Vanguard Capital Management LLC | 79.60M | ▲ 60.34K |
| State Street Corp | 65.83M | ▼ 2.65M |
| Price T Rowe Associates Inc | 44.82M | ▼ 2.49M |
| Charles Schwab Investment Management Inc | 41.48M | ▲ 3.56M |
| Sixth Street Partners Management Company, L.P. | 41.48M | ▲ 41.48M |
| Jpmorgan Chase & Co | 38.05M | ▲ 4.40M |
| Capital International Investors | 28.91M | ▼ 2.21M |
| Fmr LLC | 28.70M | ▼ 696.10K |
| Geode Capital Management, LLC | 28.69M | ▲ 116.52K |
| Vanguard Portfolio Management LLC | 28.50M | ▲ 176.99K |
Held by 1,655 ETFs
Biggest fund positions in COP by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 1, 26 | Patterson Greig | other | 0 |
| Sep 1, 26 | Patterson Greig | other | 2,243.556 |
| Sep 1, 26 | Dao Khoa M | other | 3,876.717 |
| Sep 1, 26 | Olds Nicholas G | other | 22,758 |
| Sep 1, 26 | JOHNSON KIRK L. | other | 37,930 |
| Sep 1, 26 | Kinney Shannon Browning | other | 24,080 |
| Sep 1, 26 | Kinney Shannon Browning | other | 0 |
| Aug 21, 26 | LUNDQUIST ANDREW D | sell | 9,487 |
| Aug 20, 26 | Rose Kelly Brunetti | sell | 15,000 |
| Jun 15, 26 | NIBLOCK ROBERT A | other | 322 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our COP coverage
Recent articles, reports, and earnings notes.

ConocoPhillips (COP): Cash Flow Growth vs. Commodity Risk
ConocoPhillips combines record Permian output, strong free cash flow and a visible project pipeline with the reality of commodity-cycle risk. The stock looks fairly valued, so the report lands on Hold.

Energy's rally is a geopolitical hedge, not a new growth cycle
Energy is leading because investors are paying for geopolitical protection and reliable cash flow, not pricing a broad commodity-led expansion. The trade still favors integrated majors and disciplined services companies over indiscriminate exposure to every energy name.

ConocoPhillips (COP) gains on deep earnings beat analysis
ConocoPhillips (COP) gained after a strong EPS beat, but the deeper story is operational strength: record Permian output, robust free cash flow, and steady shareholder returns. This analysis goes beyond the headline to examine margins, guidance, cash generation, and the CEO transition.
Want a deeper read on COP?
Generate a full analyst-grade report — bull/bear case, price targets, valuation depth, and a complete financial breakdown.
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Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed September 8, 2026 · Live quote · Not investment advice