ConocoPhillips (NYSE:COP) Announces Quarterly Earnings Results

ConocoPhillips (NYSE:COP) posted its quarterly earnings data on Thursday. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21), Briefing.com reports. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The firm had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter in the prior year, the business earned $1.98 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis.

Here are the key takeaways from ConocoPhillips’ conference call:

• ConocoPhillips said it delivered a strong 2025, outperforming guidance on CapEx, operating costs, and production, and successfully integrated Marathon Oil—doubling synergy capture and realizing about $1 billion of one‑time benefits while still driving pro forma production growth.
• For 2026 management is targeting a combined ~$1 billion reduction in CapEx and operating costs, guiding to roughly $12B CapEx and $10.2B OpEx with modest production growth (2.23–2.26 mmboe/d) while continuing to return ~45% of CFO and grow the base dividend.
• Major projects and LNG progress underpin the multi‑year cash plan—LNG offtake has grown to ~10 mtpa, projects are >80% complete with NFS expected to start in H2 and Willow ~50% complete (first oil early 2029), supporting management’s target of a $7 billion free cash flow inflection by 2029.
• The company emphasized a strong liquidity and capital returns profile—cash and short‑term investments of $7.4B (plus $1.1B long‑term liquid investments), nearly $2B net‑debt reduction in 2025, $3B+ of asset sales toward a $5B divestiture target, and $9B returned to shareholders in 2025.
• Near‑term risks remain as pre‑productive CapEx (notably Willow) keeps current pre‑dividend free cash flow breakeven in the mid‑$40s (management expects it to fall to the low‑$30s by 2030), and Q1 2026 production guidance incorporates estimated weather‑related downtime from Winter Storm Fern.

ConocoPhillips Stock Performance

COP stock traded down $2.91 during trading on Thursday, hitting $104.68. 5,250,159 shares of the company’s stock traded hands, compared to its average volume of 9,142,874. The stock has a market capitalization of $129.36 billion, a price-to-earnings ratio of 14.81 and a beta of 0.32. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $108.44. The stock has a fifty day moving average price of $95.76 and a two-hundred day moving average price of $93.52. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

Insider Activity

In related news, CEO Ryan Michael Lance sold 500,708 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the sale, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. This represents a 60.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Mcraven bought 5,768 shares of the business’s stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On ConocoPhillips

Several hedge funds and other institutional investors have recently modified their holdings of the company. AXA S.A. grew its holdings in ConocoPhillips by 91.1% in the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after buying an additional 40,499 shares in the last quarter. Sei Investments Co. grew its stake in shares of ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after purchasing an additional 44,852 shares in the last quarter. BNP Paribas acquired a new position in shares of ConocoPhillips during the second quarter valued at $33,000. Osterweis Capital Management Inc. bought a new stake in shares of ConocoPhillips during the second quarter valued at about $151,000. Finally, Main Street Financial Solutions LLC lifted its holdings in ConocoPhillips by 53.5% in the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after purchasing an additional 1,675 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Marathon transaction improves scale and production profile; some investors and “smart money” view the deal as a long-term catalyst that could lift cash flow and reserves, supporting upside despite the short-term miss. Why Smart Money Is Piling Into COP After Earnings Miss
• Positive Sentiment: Momentum into the quarter had pushed COP to a 52-week high and earned an RS-rating upgrade recently, signaling technical strength and continued institutional interest. Is Wall Street Bullish or Bearish on ConocoPhillips Stock?
• Neutral Sentiment: Unusual options activity suggests some traders are repositioning around volatility and earnings; this can increase short-term option-driven moves but is not a fundamental change. Looking At ConocoPhillips’s Recent Unusual Options Activity
• Neutral Sentiment: Company posted press release and slide deck for Q4 results — useful for drilling into guidance, production by basin, and capital allocation plans. View Press Release
• Negative Sentiment: Q4 earnings missed estimates: Non‑GAAP EPS $1.02 vs. $1.23 expected; revenue $13.86B vs. $14.35B expected. Management said lower realized commodity prices more than offset higher production (including Marathon contribution). That earnings/revenue miss is the primary driver of the stock weakness. ConocoPhillips Misses Q4 Earnings Estimates on Lower Prices
• Negative Sentiment: News outlets and analysts emphasize that weaker oil prices — not production — drove the profit shortfall; coverage notes the stock fell on the report as markets repriced near-term earnings sensitivity to oil. ConocoPhillips misses quarterly profit estimates on weaker oil prices
• Negative Sentiment: Macro backdrop: a modest rise in jobless claims and other macro headlines are weighing on oil demand expectations, adding pressure to energy names including COP. Jobless Claims Pop Up a Bit, Major Morning for Earnings

Wall Street Analyst Weigh In

Several research analysts recently commented on COP shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $98.00 price target on shares of ConocoPhillips in a research note on Tuesday, January 20th. BMO Capital Markets dropped their price objective on ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. UBS Group upped their target price on ConocoPhillips from $117.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, December 12th. The Goldman Sachs Group raised their price target on shares of ConocoPhillips from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Capital One Financial upped their price target on shares of ConocoPhillips from $111.00 to $116.00 and gave the company an “equal weight” rating in a report on Tuesday, January 20th. Sixteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $110.96.

About ConocoPhillips

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.