HOUSTON, Jan 5, 2026, 08:15 ET
- DT Investment Partners and SteelPeak Wealth reported steep third-quarter reductions in ConocoPhillips holdings.
- Boston Trust Walden disclosed it trimmed its stake but still held a position valued at about $30.9 million.
- SEC insider-trading disclosures show CEO Ryan Lance sold 500,708 shares in December after exercising options.
DT Investment Partners and SteelPeak Wealth sharply reduced their stakes in ConocoPhillips during the third quarter, regulatory filings showed on Monday. Separate SEC disclosures show Chief Executive Ryan Lance sold more than 500,000 shares in December.
The updates matter because they offer a snapshot of how smaller managers were positioned in one of the U.S. oil sector’s biggest names before year-end, at a time when policy and commodity swings can quickly reshape sentiment. The disclosures also add fresh detail to insider trading in the stock, which investors often track for signals on valuation and corporate confidence.
ConocoPhillips shares were indicated up about 3% in premarket trading, as oil names moved on headlines tied to Venezuela and refining demand for heavy crude. “This type of crude aligns well with the configuration of U.S. Gulf Coast refineries which were historically designed to process such grades,” said Ahmad Assiri, research strategist at Pepperstone. Reuters
DT Investment Partners cut its ConocoPhillips holding by 88.6% in the third quarter, selling 15,000 shares and ending the period with 1,933 shares valued at about $183,000, the filing showed. The disclosure also pegged overall institutional ownership at about 82.36%.
SteelPeak Wealth reported an 87.7% reduction, selling 28,025 shares to leave 3,916 shares worth about $370,000, according to its SEC disclosure.
A larger holder, Boston Trust Walden Corp, disclosed on Dec. 30 that it trimmed its position by 19.2% during the third quarter but still held 326,196 shares valued at about $30.86 million.
In a Form 4 — the SEC filing used to report insider stock trades — Lance exercised stock options for 819,900 shares and sold 500,708 shares at $92.50 on Dec. 19, leaving him with 325,972 shares held directly, the filing showed. Director William H. McRaven reported buying 5,768.351 shares on Nov. 10 at a weighted-average price of $86.6799.
ConocoPhillips said in November that third-quarter adjusted earnings were $1.61 per share and sales and other operating revenues totaled $15.03 billion, and it raised its quarterly dividend by 8% to $0.84 per share.
But the institutional reports reflect holdings at the end of September and do not show what managers did after that, while insider sales can be driven by option exercises and tax planning rather than a shift in outlook. For ConocoPhillips and peers such as Exxon and Chevron, the bigger uncertainty remains oil prices — and how quickly any Venezuela-related policy shift translates into real barrels and recoverable assets.
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