Key Highlights
- ConocoPhillips reached a 52-week peak of $122.68, closing with a 1.67% daily gain
- The stock has delivered impressive returns: 30.61% YTD and 26.28% over the trailing year
- Goldman Sachs included COP in its prestigious US Director’s Cut conviction portfolio
- Management is evaluating the sale of Permian Basin properties worth approximately $2 billion
- Roth/MKM shifted its rating from Buy to Neutral with a $112 price objective
ConocoPhillips established a fresh 52-week peak at $122.68 during trading on March 17, 2026, ultimately closing at $122.72 — positioning the stock at its highest level in the past year.
The energy giant has posted impressive gains of 30.61% since the beginning of the year, while delivering a total return of 26.28% across the trailing 12-month period. These performance metrics stand out for a major energy producer operating in today’s market conditions.
Data from InvestingPro indicates that COP remains trading below its Fair Value assessment, earning the stock a position on the platform’s Most Undervalued securities roster.
In a significant vote of confidence, Goldman Sachs incorporated ConocoPhillips into its US Director’s Cut conviction portfolio during its latest monthly rebalancing. This recognition from a leading Wall Street institution carries substantial weight.
However, not all analysts share this optimistic outlook. Roth/MKM recently lowered its rating from Buy to Neutral, expressing concerns regarding potential near-term crude oil price pressure. The firm established a $112.00 price objective — approximately 9% below current trading levels.
Roth/MKM’s cautious stance stems from expectations that crude prices might have reached a temporary ceiling, particularly as OPEC+ increases production volumes.
Major Permian Divestment Under Consideration
Reports indicate that ConocoPhillips is actively exploring the divestiture of certain Permian Basin assets. The transaction under evaluation could generate approximately $2 billion in proceeds.
This strategic initiative aligns with the company’s broader portfolio optimization objectives. No formal transaction has been finalized or publicly disclosed at this time.
Concurrently, senior vice president Andrew D. Lundquist divested 34,500 COP shares on March 13 at a price of $119.68 each, generating proceeds exceeding $4.1 million.
During the same session, Lundquist executed option contracts to acquire 34,500 shares at $49.755 per share, representing a total value of approximately $1.72 million. Following these transactions, his direct ownership position stands at 17,469 shares.
Rising Crude Prices Benefit Energy Sector
Crude oil prices have experienced upward momentum in recent trading sessions, fueled by intensifying geopolitical tensions in the Middle East. This dynamic has broadly benefited energy sector equities, including COP.
Both Brent crude futures and U.S. WTI have advanced to significant price levels, creating an advantageous operating environment for energy producers.
In related news, Syria is moving forward with plans to grant oil and gas exploration licenses to international energy corporations, potentially creating new growth avenues in the region.
With the stock trading at the upper boundary of its 52-week range and InvestingPro’s valuation analysis suggesting undervaluation, certain market observers believe additional upside potential remains.
COP concluded trading at $122.72 on March 17, 2026.
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