Eagle Capital Management Reduces $97M in ConocoPhillips ($COP)
Eagle Capital Management reduced its stake in ConocoPhillips by 930,000 shares.
Key Points
- Eagle Capital Management reduced its ConocoPhillips holdings by 930,000 shares, a 4.7% decrease, now holding 18.9 million shares valued at $2.21 billion.
- ConocoPhillips shares trade near $116.98, with a market cap of $142.5 billion and a P/E ratio of 19.86.
- Recent analyst ratings maintain a 'buy' consensus with price targets ranging from $125 to $183.
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Eagle Capital Management has trimmed its stake in ConocoPhillips (NYSE: COP) by approximately 930,000 shares, according to its latest Form 13F filing with the SEC, reflecting holdings as of the end of the reporting period. The fund now holds about 18.9 million shares, a decrease of 4.7% from its previous position, with a total value of approximately $2.21 billion.
What Changed in Eagle Capital Management's ConocoPhillips Position
Eagle Capital Management reduced its holdings in ConocoPhillips from 19.8 million shares to 18.9 million shares, cutting about 930,000 shares. This represents a 4.7% decrease in its stake. The value of this reduced position stands at approximately $2.21 billion.
Other Institutional Activity in ConocoPhillips
In other institutional activity, BlackRock, Inc. added about 1.6 million shares to its holdings, now owning 91.2 million shares worth approximately $12.03 billion. Vanguard Capital Management LLC significantly increased its position, adding 79.5 million shares, resulting in a total of 79.5 million shares valued at around $10.5 billion. State Street Corp also increased its holdings by 3.9 million shares, bringing its total to 68.5 million shares with a value of roughly $9.04 billion. Conversely, Charles Schwab Investment Management Inc reduced its stake by 3.5 million shares, now holding 37.9 million shares worth about $5 billion.
ConocoPhillips Stock Down 20.2%
Shares of ConocoPhillips (NYSE: COP) are trading near $116.98. The company has a market capitalization of approximately $142.5 billion and a P/E ratio of 19.86. ConocoPhillips' stock has a 52-week low of $85.57 and a high of $135.87. It has a 50-day moving average of $120.84 and a 200-day moving average of $104.78. The company maintains a current ratio of 1.29 and a quick ratio of 1.07, with a debt-to-equity ratio of 36.14.
$COP stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
For its most recent quarter ending March 31, 2026, ConocoPhillips reported revenue of $59.38 billion, though it saw a revenue decline of 5.3%. The company achieved a net margin of 12.33% and a return on equity of 11.28%. Its next earnings report is expected on April 30, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
3 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 13.2%. Revenue beat estimates by 1.6%.
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Profit surprise
EBITDA missed by 2 percent. Operating income beat by 2 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
3 target raises.
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Earnings quality
Gross margin up 16.7 points. Operating margin down 4.6 points. Positive free cash flow.
Earnings Call Summary
ConocoPhillips delivered strong first quarter results with 1.89 dollars of earnings per share and 5.4 billion dollars of free cash flow, beating expectations. The company returned 2 billion dollars to shareholders. Willow construction in Alaska is 50 percent complete with key milestones achieved. The Middle East conflict has taken about 10 million barrels per day of global production offline, with Qatar being their main impact at about 80 thousand barrels per day. The company remains committed to its long-term strategy and is adding modest Permian activity to maintain operational efficiency.
Guidance The company lowered production guidance for the full year by 35 thousand barrels per day because of the Middle East conflict taking Qatar offline. Operating costs stay at 10.2 billion dollars, down 400 million from last year. Capital spending goes up slightly to 12 to 12.5 billion dollars to add Permian drilling and maintain efficiency. The company expects free cash flow to be up significantly from higher oil and liquefied natural gas prices since it is not hedged.
Solid report. Results were generally better than expected, but the forward outlook did not materially change.
Dividend
ConocoPhillips offers an annual dividend rate of $3.36, yielding 2.91%. The company's dividend payout ratio is 54.92%.
Insider Buying and Selling at ConocoPhillips
Recent insider activity at ConocoPhillips includes Sharmila Mulligan selling 1,974 shares on June 10, 2026, and Senior Vice President Andrew Lundquist executing various transactions on June 1, 2026, including selling 2,936 shares and buying the same amount. William McRaven purchased 2,230 shares on April 15, 2026.
Analysts Set New Price Targets
On May 27, 2026, Mizuho maintained its 'buy' rating on ConocoPhillips with a price target of $150. Barclays also maintained a 'buy' rating with a $155 target on May 26, 2026. Morgan Stanley echoed this sentiment on May 22, 2026, with a $153 target. The consensus among analysts remains a 'buy' with an average target price of $142.77 from 26 opinions.
About ConocoPhillips
ConocoPhillips is a global energy company based in Houston, Texas, specializing in the exploration, production, and marketing of oil and natural gas. With operations across several continents, including North America, Europe, and Asia, the company employs about 9,700 people. Led by CEO Ryan M. Lance, ConocoPhillips focuses on both conventional and unconventional energy resources, including significant LNG developments.
Bottom Line
Eagle Capital Management's reduction in its ConocoPhillips stake reflects a strategic adjustment in its portfolio. Investors often track such moves for insights, but remember that 13F filings are backward-looking and may not indicate current positions. ConocoPhillips remains a significant player in the energy sector, with robust institutional interest and positive analyst sentiment.
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