ConocoPhillips Slides as Crude Prices Retreat and No New Company-Specific Catalyst Emerges

ConocoPhillips (COP) is down 3.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is a sharp pullback in crude prices, which has weighed on oil producers broadly and tends to hit ConocoPhillips directly because its earnings are highly sensitive to realized commodity prices. There does not appear to be a fresh company-specific filing or announcement today that would better explain the move, so this could be mainly a sector reaction.

Details:

Oil prices fell further this week as markets priced in improving supply expectations tied to a U.S.-Iran agreement and the reopening of the Strait of Hormuz to tanker traffic.

Energy shares were losing ground alongside crude, showing the weakness was not isolated to ConocoPhillips.

ConocoPhillips’ first-quarter 2026 results showed earnings and adjusted earnings declined from a year earlier, with the company citing lower prices and lower volumes as key pressures.

The company’s average realized price in the first quarter was below the prior-year level, reinforcing why investors often reprice the stock quickly when oil benchmarks move lower.

Sources:

ConocoPhillips, AP News, U.S. Energy Information Administration

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$COP Insider Trading Activity

$COP insiders have traded $COP stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.

Here’s a breakdown of recent trading of $COP stock by insiders over the last 6 months:

RYAN MICHAEL LANCE (Chairman and CEO) has made 0 purchases and 3 sales selling 1,120,729 shares for an estimated $125,834,473.
TIMOTHY A LEACH sold 40,000 shares for an estimated $4,751,684
ANDREW D LUNDQUIST (Senior Vice President) sold 34,500 shares for an estimated $4,128,960
NICHOLAS G OLDS (Executive Vice President) has made 0 purchases and 3 sales selling 33,666 shares for an estimated $4,035,861.
KELLY BRUNETTI ROSE (SVP & General Counsel) has made 0 purchases and 2 sales selling 16,200 shares for an estimated $2,004,556.
WELSH KONTESSA S HAYNES (VP & Controller) sold 10,339 shares for an estimated $1,241,405
HEATHER G. HRAP (Senior Vice President) sold 2,654 shares for an estimated $317,630
SHARMILA MULLIGAN sold 1,974 shares for an estimated $234,906

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$COP Hedge Fund Activity

We have seen 1,272 institutional investors add shares of $COP stock to their portfolio, and 1,107 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

CAPITAL INTERNATIONAL INVESTORS removed 17,244,513 shares (-35.7%) from their portfolio in Q1 2026, for an estimated $2,276,275,716
WELLINGTON MANAGEMENT GROUP LLP removed 10,605,411 shares (-44.1%) from their portfolio in Q1 2026, for an estimated $1,399,914,252
FMR LLC added 8,244,241 shares (+39.0%) to their portfolio in Q1 2026, for an estimated $1,088,239,812
JPMORGAN CHASE & CO removed 7,726,100 shares (-24.0%) from their portfolio in Q4 2025, for an estimated $723,240,221
BANK OF AMERICA CORP /DE/ removed 6,628,442 shares (-34.2%) from their portfolio in Q1 2026, for an estimated $874,954,344
HARRIS ASSOCIATES L P removed 6,574,096 shares (-27.4%) from their portfolio in Q1 2026, for an estimated $867,780,672
CAPITAL RESEARCH GLOBAL INVESTORS added 5,003,542 shares (+435.3%) to their portfolio in Q1 2026, for an estimated $660,467,544

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$COP Congressional Stock Trading

Members of Congress have traded $COP stock 5 times in the past 6 months. Of those trades, 2 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $COP stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 3 times. They made 1 purchase worth up to $15,000 on 02/10 and 2 sales worth up to $65,000 on 01/09, 01/07.
SENATOR MARKWAYNE MULLIN purchased up to $50,000 on 12/29.
REPRESENTATIVE JULIE JOHNSON sold up to $15,000 on 12/18.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$COP Analyst Ratings

Wall Street analysts have issued reports on $COP in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Morgan Stanley issued a "Overweight" rating on 05/22/2026

To track analyst ratings and price targets for $COP, check out Quiver Quantitative's $COP forecast page.

$COP Price Targets

Multiple analysts have issued price targets for $COP recently. We have seen 15 analysts offer price targets for $COP in the last 6 months, with a median target of $125.0.

Here are some recent targets:

Nitin Kumar from Mizuho set a target price of $150.0 on 05/27/2026
Betty Jiang from Barclays set a target price of $155.0 on 05/26/2026
Devin McDermott from Morgan Stanley set a target price of $153.0 on 05/22/2026
Betty Zhang from Scotiabank set a target price of $125.0 on 04/22/2026
Sam Margolin from Wells Fargo set a target price of $183.0 on 04/09/2026
Ryan Todd from Piper Sandler set a target price of $157.0 on 04/08/2026
Alastair Syme from Citigroup set a target price of $150.0 on 04/02/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.