ConocoPhillips (COP) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Adjusted EPS
- $3.24
- Estimate
- $2.94
- Surprise
- +10.3%
- Revenue (period 2026-06-30)
- $18.09B
- Score at report (before → after)
- 5.4 → 5.3/10
Revenue source: xbrl.
How the report landed
ConocoPhillips (COP) beat the $2.94 estimate with adjusted EPS of $3.24 — a large 10.3% upside surprise. TrendMatrix's engine moved from Buy (Wait) (5.4/10) to Hold at 5.3/10 after the report — the engine's score fell despite the beat.
Where TrendMatrix's rating stands now
TrendMatrix currently rates COP Hold at 6.6/10.
3 of the last 4 quarters beat the estimate; this quarter's +10.3% surprise compares with a +6.8% four-quarter average. Next scheduled report: 2026-11-05.
What supports the rating
- Sector modifier (Energy): +1.2
- Strong earnings beat streak (3/4)
What argues against it
- Analyst target reached - limited upside remaining
- Negative momentum
- Target reached (1.6% upside)
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $129.34
- Price target
- $131.47
- Stop
- $121.82
- Upside to target
- +1.6%
- Reward-to-risk
- 0.3:1
The stock trades at 16.6× trailing but 13.3× forward earnings — consensus estimates already build in a substantial earnings recovery.
Model outputs from TrendMatrix’s engine as of 2026-09-24 — shown for context, not personalized investment advice.
COP at TrendMatrix's latest read
Energy results are commodity-price arithmetic first; the operational beat or miss is read net of what the strip already told the market.
- Industry
- Oil & Gas E&P
- Market cap
- $153.88B
- P/E (fwd)
- 13.3
- P/E (ttm)
- 16.6
- 52-week range
- $85.57–$141.62
- Off 52-week high
- 8.7%
- RSI (14)
- 40
- Volume vs avg
- 0.77×
- Score today
- 6.6/10