CONOCOPHILLIPS
No SEC Form 4 filings for $COP in the last 30 days.
Norwegian oil and gas firms raised 2026-27 investment forecasts from three months earlier, though capex is still expected to edge down vs 2025. 2026 capex is now expected at NOK 266bn ($28.64bn), up from NOK 255bn; 2027 at NOK 207bn, up from NOK 201bn. ConocoPhillips’ NOK 20bn Greater Ekofisk redevelopment is a key driver.
Since fighting began in Iran on Feb. 28, Iran has reduced ship traffic through the Strait of Hormuz, which carries about 25% of global crude, pushing crude prices up about 45% to above $100/bbl. The S&P 500 energy sector is up 31.5% YTD through May 25, with ExxonMobil, Chevron and ConocoPhillips up 28.7%, 25.6% and 28.7%, respectively.
Bernstein Research energy analyst Bob Brackett argues investors should compare oil majors’ dividend cash flows to inflation-protected TIPS yields, not nominal Treasuries. He cites Exxon’s $1.03/share Q2 2026 dividend and planned $20B buybacks, plus rising Q1 2026 earnings, and says majors sustained dividends during COVID while some European peers cut.
