Comprehensive Stock Comparison
Compare TXO Partners, L.P. (TXO) vs ConocoPhillips (COP) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | COP | 9.3% revenue growth vs TXO's -25.7% |
| Value | COP | Lower P/E (23.0x vs 25.0x) |
| Quality / Margins | COP | 13.3% net margin vs TXO's 4.6% |
| Stability / Safety | TXO | Beta 0.46 vs COP's 0.99, lower leverage |
| Dividends | TXO | 18.9% yield, 5-year raise streak, vs COP's 2.9% |
| Momentum (1Y) | COP | +17.7% vs TXO's -25.5% |
| Efficiency (ROA) | COP | 6.5% ROA vs TXO's 1.2%, ROIC 10.7% vs -0.8% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
TXO Partners is a conventional oil and gas partnership that acquires, develops, and exploits mature producing properties in North American basins. It generates revenue primarily from oil and natural gas liquids production — roughly 60% from oil and 40% from natural gas — through its working interests in established fields like the San Juan and Permian Basins. The partnership's competitive advantage lies in its focus on low-decline, conventional assets with predictable cash flows and its operational expertise in optimizing mature fields.
ConocoPhillips is a global independent exploration and production company that finds, produces, and sells crude oil, natural gas, and natural gas liquids. It generates revenue primarily from selling hydrocarbons produced from its diverse portfolio — including unconventional shale plays in North America, conventional assets worldwide, and oil sands in Canada — with no refining or marketing operations. The company's competitive advantage lies in its low-cost position, large-scale resource base, and operational expertise across multiple geographies and resource types.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
COP leads in 4 of 6 categories (Financial Metrics, Valuation Metrics). TXO leads in 1 (Analyst Outlook). 1 tied.
Financial Metrics (TTM)
COP is the larger business by revenue, generating $59.7B annually — 163.7x TXO's $364M. COP is the more profitable business, keeping 13.3% of every revenue dollar as net income compared to TXO's 4.6%. On growth, TXO holds the edge at +46.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | TXOTXO Partners, L.P. | COPConocoPhillips |
|---|---|---|
| RevenueTrailing 12 months | $364M | $59.7B |
| EBITDAEarnings before interest/tax | $95M | $23.2B |
| Net IncomeAfter-tax profit | $17M | $7.9B |
| Free Cash FlowCash after capex | -$146M | $16.8B |
| Gross MarginGross profit ÷ Revenue | +35.3% | +35.2% |
| Operating MarginEBIT ÷ Revenue | +0.5% | +19.8% |
| Net MarginNet income ÷ Revenue | +4.6% | +13.3% |
| FCF MarginFCF ÷ Revenue | -40.1% | +28.1% |
| Rev. Growth (YoY)Latest quarter vs prior year | +46.8% | -0.3% |
| EPS Growth (YoY)Latest quarter vs prior year | — | -38.4% |
Valuation Metrics
At 17.9x trailing earnings, COP trades at a 7% valuation discount to TXO's 19.3x P/E. On an enterprise value basis, COP's 6.7x EV/EBITDA is more attractive than TXO's 14.6x.
| Metric | TXOTXO Partners, L.P. | COPConocoPhillips |
|---|---|---|
| Market CapShares × price | $686M | $139.0B |
| Enterprise ValueMkt cap + debt − cash | $836M | $156.0B |
| Trailing P/EPrice ÷ TTM EPS | 19.26x | 17.90x |
| Forward P/EPrice ÷ next-FY EPS est. | 25.04x | 23.03x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 14.62x | 6.71x |
| Price / SalesMarket cap ÷ Revenue | 2.43x | 2.33x |
| Price / BookPrice ÷ Book value/share | 0.74x | 2.11x |
| Price / FCFMarket cap ÷ FCF | — | 8.29x |
Profitability & Efficiency
COP delivers a 12.3% return on equity — every $100 of shareholder capital generates $12 in annual profit, vs $2 for TXO. TXO carries lower financial leverage with a 0.26x debt-to-equity ratio, signaling a more conservative balance sheet compared to COP's 0.36x. On the Piotroski fundamental quality scale (0–9), COP scores 7/9 vs TXO's 4/9, reflecting strong financial health.
| Metric | TXOTXO Partners, L.P. | COPConocoPhillips |
|---|---|---|
| ROE (TTM)Return on equity | +2.3% | +12.3% |
| ROA (TTM)Return on assets | +1.2% | +6.5% |
| ROICReturn on invested capital | -0.8% | +10.7% |
| ROCEReturn on capital employed | -0.8% | +10.7% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 7 |
| Debt / EquityFinancial leverage | 0.26x | 0.36x |
| Net DebtTotal debt minus cash | $150M | $16.9B |
| Cash & Equiv.Liquid assets | $7M | $6.5B |
| Total DebtShort + long-term debt | $157M | $23.4B |
| Interest CoverageEBIT ÷ Interest expense | 2.16x | 11.99x |
Total Returns (with DRIP)
A $10,000 investment in COP five years ago would be worth $24,904 today (with dividends reinvested), compared to $8,373 for TXO. Over the past 12 months, COP leads with a +17.7% total return vs TXO's -25.5%. The 3-year compound annual growth rate (CAGR) favors COP at 6.3% vs TXO's -8.6% — a key indicator of consistent wealth creation.
| Metric | TXOTXO Partners, L.P. | COPConocoPhillips |
|---|---|---|
| YTD ReturnYear-to-date | +13.9% | +18.2% |
| 1-Year ReturnPast 12 months | -25.5% | +17.7% |
| 3-Year ReturnCumulative with dividends | -23.6% | +20.0% |
| 5-Year ReturnCumulative with dividends | -16.3% | +149.0% |
| 10-Year ReturnCumulative with dividends | -16.3% | +306.3% |
| CAGR (3Y)Annualised 3-year return | -8.6% | +6.3% |
Risk & Volatility
TXO is the less volatile stock with a 0.46 beta — it tends to amplify market swings less than COP's 0.99 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. COP currently trades 99.7% from its 52-week high vs TXO's 61.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | TXOTXO Partners, L.P. | COPConocoPhillips |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.46x | 0.99x |
| 52-Week HighHighest price in past year | $20.24 | $113.80 |
| 52-Week LowLowest price in past year | $10.12 | $79.88 |
| % of 52W HighCurrent price vs 52-week peak | +61.9% | +99.7% |
| RSI (14)Momentum oscillator 0–100 | 60.2 | 62.7 |
| Avg Volume (50D)Average daily shares traded | 192K | 7.0M |
Analyst Outlook
Wall Street rates TXO as "Strong Buy" and COP as "Buy". Consensus price targets imply 47.8% upside for TXO (target: $19) vs 2.9% for COP (target: $117). For income investors, TXO offers the higher dividend yield at 18.87% vs COP's 2.94%.
| Metric | TXOTXO Partners, L.P. | COPConocoPhillips |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Strong Buy | Buy |
| Price TargetConsensus 12-month target | $18.50 | $116.79 |
| # AnalystsCovering analysts | 2 | 52 |
| Dividend YieldAnnual dividend ÷ price | +18.9% | +2.9% |
| Dividend StreakConsecutive years of raises | 5 | 1 |
| Dividend / ShareAnnual DPS | $2.36 | $3.34 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +3.6% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Jan 23 | Feb 26 | Change |
|---|---|---|---|
| TXO Partners, L.P. (TXO) | 100 | 53.32 | -46.7% |
| ConocoPhillips (COP) | 100 | 86.48 | -13.5% |
ConocoPhillips (COP) returned +149% over 5 years vs TXO Partners, L.P. (TXO)'s -16%. A $10,000 investment in COP 5 years ago would be worth $24,904 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| TXO Partners, L.P. (TXO) | $109M | $283M | +160.0% |
| ConocoPhillips (COP) | $23.9B | $59.7B | +149.8% |
ConocoPhillips's revenue grew from $23.9B (2016) to $59.7B (2025) — a 10.7% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| TXO Partners, L.P. (TXO) | -150.1% | 8.3% | +105.5% |
| ConocoPhillips (COP) | -15.1% | 13.3% | +187.8% |
ConocoPhillips's net margin went from -15% (2016) to 13% (2025).
Chart 4P/E Ratio History — 7 Years
| Stock | 2018 | 2025 | Change |
|---|---|---|---|
| ConocoPhillips (COP) | 11.7 | 14.8 | +26.5% |
ConocoPhillips has traded in a 8x–15x P/E range over 7 years; current trailing P/E is ~18x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| TXO Partners, L.P. (TXO) | -6.53 | 0.65 | +110.0% |
| ConocoPhillips (COP) | -2.9 | 6.34 | +318.6% |
ConocoPhillips's EPS grew from $-2.90 (2016) to $6.34 (2025).
Chart 6Free Cash Flow — 5 Years
TXO Partners, L.P. generated $-156M FCF in 2024 (-7% vs 2021). ConocoPhillips generated $17B FCF in 2025 (+44% vs 2021).
TXO vs COP: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is TXO or COP a better buy right now?
ConocoPhillips (COP) offers the better valuation at 17.9x trailing P/E (23.0x forward), making it the more compelling value choice. Analysts rate TXO Partners, L.P. (TXO) a "Strong Buy" — based on 2 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — TXO or COP?
On trailing P/E, ConocoPhillips (COP) is the cheapest at 17.9x versus TXO Partners, L.P. at 19.3x. On forward P/E, ConocoPhillips is actually cheaper at 23.0x.
03Which is the better long-term investment — TXO or COP?
Over the past 5 years, ConocoPhillips (COP) delivered a total return of +149.0%, compared to -16.3% for TXO Partners, L.P. (TXO). A $10,000 investment in COP five years ago would be worth approximately $25K today (assuming dividends reinvested). Over 10 years, the gap is even starker: COP returned +306.3% versus TXO's -16.3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — TXO or COP?
By beta (market sensitivity over 5 years), TXO Partners, L.P. (TXO) is the lower-risk stock at 0.46β versus ConocoPhillips's 0.99β — meaning COP is approximately 113% more volatile than TXO relative to the S&P 500. On balance sheet safety, TXO Partners, L.P. (TXO) carries a lower debt/equity ratio of 26% versus 36% for ConocoPhillips — giving it more financial flexibility in a downturn.
05Which has better profit margins — TXO or COP?
ConocoPhillips (COP) is the more profitable company, earning 13.3% net margin versus 8.3% for TXO Partners, L.P. — meaning it keeps 13.3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: COP leads at 19.8% versus -2.4% for TXO. At the gross margin level — before operating expenses — COP leads at 35.2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is TXO or COP more undervalued right now?
On forward earnings alone, ConocoPhillips (COP) trades at 23.0x forward P/E versus 25.0x for TXO Partners, L.P. — 2.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for TXO: 47.8% to $18.50.
07Which pays a better dividend — TXO or COP?
All stocks in this comparison pay dividends. TXO Partners, L.P. (TXO) offers the highest yield at 18.9%, versus 2.9% for ConocoPhillips (COP).
08Is TXO or COP better for a retirement portfolio?
For long-horizon retirement investors, TXO Partners, L.P. (TXO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.46), 18.9% yield). Both have compounded well over 10 years (TXO: -16.3%, COP: +306.3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between TXO and COP?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: TXO is a small-cap income-oriented stock; COP is a mid-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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