Markets are rallying Wednesday on the news of a two-week ceasefire in Iran, but some stocks are bucking the trend.

ConocoPhillips  COP has jumped 40.8% year to date (YTD), outpacing the 39.3% growth of the industry's composite stocks, and 36.2% and 32.3% improvements of Exxon Mobil Corporation XOM and Chevron Corporation CVX, respectively.

Energy executives sold stock worth $1.4 billion in the first quarter on the back of a historic shock to the world's crude supplies.

ConocoPhillips and ExxonMobil are both benefiting from higher oil prices. Each energy company has a respectable dividend payout.

Q1 2026 was an exceptional quarter for energy stocks thanks to war in the Middle East, but Q2 2026 is not guaranteed to step in its footsteps. Energy prices can go higher and push the sector higher, but they do not have to if the U.S. can neutralize Iran's ability to project force. While energy stocks are benefiting from the fighting in the short term, it may actually come back to hurt them in the long run.

Oil had its best month since the pandemic. Higher oil prices will boost ConocoPhillips' earnings.

ConocoPhillips is rated Buy with a $160 price target, supported by strong oil & gas prices and disciplined cost management. COP aims to reduce capital and operating expenses by $1B at an annualized run-rate while optimizing its assets. Free cash flow breakeven to fall to the low-$30/bbl WTI range. The Willow project in Alaska and LNG export growth underpin long-term free cash flow accretion, while Middle East conflict poses risk to Qatar assets.

Savvy Advisors Inc. increased its position in shares of ConocoPhillips (NYSE: COP) by 28.6% during the undefined quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,271 shares of the energy producer's stock after buying an additional 5,404 shares during the period. Savvy

Cidel Asset Management Inc. decreased its position in shares of ConocoPhillips (NYSE: COP) by 5.3% in the undefined quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 149,129 shares of the energy producer's stock after selling 8,326 shares during the quarter. Cidel Asset Management

Element Squared LLC bought a new stake in ConocoPhillips (NYSE: COP) in the undefined quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 25,868 shares of the energy producer's stock, valued at approximately $2,421,000. ConocoPhillips makes up approximately 1.3% of Element Squared LLC's holdings, making