ConocoPhillips (COP) Gained from a Favorable Macroeconomic Backdrop

5 days ago 5

Soumya Eswaran

Wed, April 15, 2026 astatine 8:29 AM CDT 2 min read

Oakmark Funds, advised by Harris Associates, released its “Oakmark Fund” first-quarter 2026 capitalist letter. The nonsubjective of the money is to present superior appreciation by investing successful divers large-cap US companies. A transcript of the missive tin beryllium downloaded here. In the quarter, the Fund (investor class) outperformed the S&P 500 Index, returning -2.47% vs. -4.33% for the index. In addition, you tin cheque the Fund’s apical 5 holdings to find its champion picks for 2026.

In its first-quarter 2026 capitalist letter, Oakmark Fund highlighted ConocoPhillips (NYSE:COP) arsenic a starring contributor. ConocoPhillips (NYSE:COP) is simply a US-based vigor institution that produces, transports, and markets crude oil, bitumen, earthy gas, liquefied earthy state (LNG), and earthy state liquids. On April 14, 2026, ConocoPhillips (NYSE:COP) closed astatine $118.79 per share. One-month instrumentality of ConocoPhillips (NYSE:COP) was -3.93%, and its shares gained 37.55% implicit the past 52 weeks. ConocoPhillips (NYSE:COP) has a marketplace capitalization of $145.20 billion.

Oakmark Fund stated the pursuing regarding ConocoPhillips (NYSE:COP) successful its Q1 2026 capitalist letter:

"ConocoPhillips (NYSE:COP) was the apical contributor during the quarter. The U.S.-headquartered lipid and state company's banal terms roseate arsenic it benefitted from a favorable macroeconomic backdrop and results accordant with our expectations. Rising vigor prices owed to geopolitical struggle were the astir important operator of the banal performance. We proceed to judge Conoco has immoderate of the industry’s highest prime assets managed by a squad of beardown operators and superior allocators."

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ConocoPhillips (NYSE:COP) is not connected our database of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 65 hedge money portfolios held ConocoPhillips (NYSE:COP) astatine the extremity of the 4th quarter, compared to 72 successful the erstwhile quarter. While we admit the imaginable of ConocoPhillips (NYSE:COP) arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

In another article, we covered ConocoPhillips (NYSE:COP) and shared the database of champion blue-chip stocks to buy. In addition, delight cheque retired our hedge money capitalist letters Q1 2026 page for much capitalist letters from hedge funds and different starring investors.

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