Here's What Hurt ConocoPhillips' (COP) in Q2
Here's What Hurt ConocoPhillips' (COP) in Q2.
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Harris Oakmark recently released its second-quarter 2026 investor letter for the "Oakmark Fund". A copy of the letter can be downloaded here . The objective of the fund is to deliver capital appreciation by investing in a diverse set of large-cap US companies. In the quarter, the Fund (investor class) underperformed the S&P 500 Index, returning 2.45% vs. 15.20% for the index. The industrials and financials contributed to performance at the sector level, while information technology and energy detracted. Investing in AI-benefited enterprises kept market leadership narrow during the quarter. In addition, you can check the Fund's top five holdings to determine its best picks for 2026.
In its Q2 2026 investor letter, Oakmark Fund highlighted ConocoPhillips (NYSE:COP). ConocoPhillips (NYSE: COP ) is a US-based energy company that produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids. On July 13, 2026, ConocoPhillips (NYSE:COP) closed at $112.85 per share, reflecting a market capitalization of $137.48 billion. ConocoPhillips (NYSE:COP) posted a one-month return of 1.36%, while its shares gained 21.93% over the past 52 weeks.
Oakmark Fund stated the following regarding ConocoPhillips (NYSE:COP) in its Q2 2026 investor update:
"ConocoPhillips (NYSE:COP) was the top detractor during the quarter. The U.S.-headquartered oil and gas exploration and production company's stock declined as crude prices, which had risen on Middle East disruptions, eased. Positively, the company's underlying fundamentals continue to track our expectations. We value management's focus on shareholder returns and see a long runway for growth from the company's geographically diverse and inventory-deep energy portfolio."
ConocoPhillips (NYSE:COP) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026 . According to our database, 74 hedge fund portfolios held ConocoPhillips (NYSE:COP) at the end of the first quarter, up from 65 in the previous quarter. While we acknowledge the potential of ConocoPhillips (NYSE:COP) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock .
In another article , we covered ConocoPhillips (NYSE:COP) and shared the list of cheap blue-chip stocks to buy according to Wall Street analysts. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey .
Sinergia Empresarial continuará el seguimiento de esta información sobre here's What Hurt ConocoPhillips' (COP) in Q2 y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.
