Is ConocoPhillips Stock Underperforming the Dow?
Houston, Texas-based ConocoPhillips (COP) is one of the world’s largest independent E&P companies based on production and proved reserves. With a market cap of $107.9 billion, ConocoPhillips employs nearly 11,800 people and operates in 13 countries across the Americas, Indo-Pacific, and the EMEA region.
Companies worth $10 billion or more are generally described as "large-cap stocks," and ConocoPhillips fits this bill perfectly. Given its dominance in the oil & gas industry, its valuation above this mark is not surprising. With a commitment to safe and responsible development, the company accesses, develops and produces oil & natural gas to help meet the world's energy needs.
COP touched its 52-week high of $118.40 on Jul. 18 last year and currently trades 27.9% below that peak. COP stock has dipped 13.9% over the past three months, notably underperforming the Dow Jones Industrial Average’s ($DOWI) 3.6% decline during the same time frame.
ConocoPhillips has lagged behind the Dow over the longer term as well. COP stock has declined 28.3% over the past 52 weeks and 13.9% on a YTD basis, compared to Dow’s 8.8% gains over the past year and a marginal dip in 2025.
To confirm the downturn, COP stock has traded mostly below its 200-day moving average over the past 52 weeks and below its 50-day moving average since late November 2024, with some fluctuations.
COP stock gained 1.3% following the release of its better-than-expected Q1 earnings on May 8. The company’s total revenue and other income increased by an impressive 18.1% year-over-year to $17.1 billion and surpassed the Street’s estimates, mainly driven by a 5% or 115 MBOED in production increase from the same period a year ago. Moreover, its adjusted earnings rose 11.2% from the prior year’s quarter to $2.7 billion, primarily driven by higher volumes. COP’s adjusted EPS for the quarter also grew 3% year-over-year to $2.09 and surpassed the consensus estimates by 1.5%.
Its rival, EOG Resources, Inc. (EOG), has declined 11.4% on a YTD basis and 13.7% over the past year, outperforming the stock.
Nevertheless, among the 26 analysts covering the COP stock, the consensus rating is a “Strong Buy.” Its mean price target of $115.76 suggests a robust 35.6% upside potential from current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
