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S&P 500 Energy Sector SEC Filings — May 05, 2026

USA S&P 500 Energy

5 high priority8 medium priority13 total filings analysed

Executive Summary

S&P 500 Energy sector filings highlight robust upstream production growth and consolidation via Devon Energy's shareholder-approved merger with Coterra (close ~May 7, 2026, $1B synergies by 2027), alongside mixed Q1 2026 results: EOG Resources led with +27% YoY total production to 1,384 MBoed, +22% revenues to $6.9B, and +30% CFO to $3.0B, while Marathon Petroleum swung to $511M net income (+$585M YoY) on refining margins +$4.36/bbl to $17.74 but midstream EBITDA -7% to $1.6B. Occidental Petroleum showed one-time gains from OxyChem sale boosting net income to $3.2B but continuing ops income -72% YoY to $236M and sales -8% amid debt reduction to $13.3B toward $10B target. Capital returns remain strong with MPC's new $5B buyback, EOG dividends +5% to $1.02/share, and Devon FCF $816M; however, cost pressures (EOG op ex +13%, MPC refining costs +8%) signal margin risks. Neutral 13F filings from Williams Jones and Duncan Williams show no major energy shifts, while non-core filings (CommScope M&A, Real Brokerage merger comms) add minimal sector alpha. Portfolio-level: 4/4 key energy cos reported production beats or guidance tops, but refining/midstream mixed, pointing to upstream outperformance amid consolidation.

Tracking the trend? Catch up on the prior S&P 500 Energy Sector SEC Filings digest from April 28, 2026.

Investment Signals(10)

  • Devon Energy↓(BULLISH)
    ▲

    Shareholder approval for Coterra merger (470M For vs 4M Against), Q1 oil prod 387 Mbbl/d at top guidance, total 833 MBoe/d, OCF $1.7B, FCF $816M, Q2 standalone guidance 851-868 MBoe/d, post-merger div $0.315/share

  • EOG Resources↓(BULLISH)
    ▲

    Total prod +27% YoY to 1,384 MBoed (oil +9%, NGL +37%, gas +45%), revenues +22% YoY to $6.9B, net income +35% to $1.98B, CFO +30% to $2.97B, dividends +5% YoY to $1.02/share

  • Marathon Petroleum↓(BULLISH)
    ▲

    Q1 net income swing to $511M ($1.73/share) from -$74M loss, adj EBITDA +40% to $2.76B, refining margins +$4.36/bbl to $17.74, OCF +$1.16B YoY to $1.1B, new $5B buyback auth, $1B returned to shareholders

  • Occidental Petroleum↓(BULLISH)
    ▲

    Q1 prod 1,426 MBoed exceeded high-end guidance, debt reduced $7.1B to $13.3B (target $10B), OCF $1.4B ($3.2B pre-WC), long-term debt -26% to $15.2B YTD

  • Devon Energy↓(BULLISH)
    ▲

    Capex $848M 6% below midpoint guidance, on track for $1B annual pre-tax FCF improvement ahead of schedule, authorized shares doubled to 2B for merger

  • EOG Resources↓(BULLISH)
    ▲

    Crude oil equiv prod +27% YoY to 124.5 MMBoe, treasury repurchases $405M, stockholders' equity +? to $30.9B, impairments -11% YoY

  • Marathon Petroleum↓(BULLISH)
    ▲

    Revenues +8.5% YoY to $34.2B, op income +104% to $1.4B, refining EBITDA +182% to $1.38B, 2026 capex outlook $1.5B (ex-MPLX), MPLX $2.4B

  • Occidental Petroleum↓(BULLISH)
    ▲

    Cash & equiv +? to $3.8B, total assets $80.5B, capex -8% YoY to $1.55B despite OxyChem gain $3.1B

  • Copper Property CTL↓(BULLISH)
    ▲

    Monthly cash dist $0.08644/unit payable May 11 to record May 8

  • EOG Resources↓(BULLISH)
    ▲

    Nat gas revenues +60% YoY to $1.02B, NGL +16% to $664M, oil +9% to $3.58B despite op ex +13%

Risk Flags(8)

Opportunities(8)

  • Devon Energy/Merger Close↓(OPPORTUNITY)
    ◆

    Coterra merger approved May 4, close ~May 7, $1B synergies by YE 2027, Q1 FCF $816M supports post-merger div $0.315/share Q2

  • EOG Resources/Production Growth↓(OPPORTUNITY)
    ◆

    +27% YoY crude equiv prod outlier vs sector, cash flow $3B funds $1.49B capex (+8% YoY), buybacks/divs, trading premium potential

  • Marathon Petroleum/Buybacks↓(OPPORTUNITY)
    ◆

    New $5B repurchase auth after $1B Q1 returns, refining margins +32% YoY, capex discipline $1.5B 2026 positions for downside protection

  • Occidental Petroleum/Debt Target↓(OPPORTUNITY)
    ◆

    Reduced to $13.3B from $20.6B YE2025, $10B milestone in sight post-$7.1B repayment, frees cash for returns post-OxyChem sale

  • Devon Energy/Guidance Beat↓(OPPORTUNITY)
    ◆

    Q1 capex -6% midpt, prod top-end, Q2 851-868 MBoe/d (46% oil) pre-merger sets up combined entity outperformance

  • EOG Resources/Capital Allocation↓(OPPORTUNITY)
    ◆

    Div +5% YoY ($545M Q1), repurchases $405M, equity $30.9B supports sustained returns amid 22% revenue growth

  • Marathon Petroleum/Q2 Outlook↓(OPPORTUNITY)
    ◆

    Refining costs guide $5.65/bbl (down QoQ), throughput 2,990 mbpd, MPLX growth capex $2.4B for midstream yield

  • Occidental Petroleum/Asset Sale↓(OPPORTUNITY)
    ◆

    OxyChem gain $3.1B funds deleveraging, prod beat high-end guidance despite QoQ dip

Sector Themes(5)

  • Upstream Production Surge(BULLISH THEME)
    ◆

    3/4 key filers (EOG +27% YoY, Devon oil top-end, Oxy 1,426 MBoed beat) show volume growth 9-45% driving revenues +22% avg, outpacing pricing dips, bullish for E&P names

  • Refining Margin Recovery(MIXED THEME)
    ◆

    MPC margins +32% to $17.74/bbl swung profits positive, but costs +8% across; 89% util signals capacity discipline amid volatility

  • Debt Deleveraging & Returns(BULLISH THEME)
    ◆

    Oxy debt -26% YTD to $15.2B, MPC $5B buyback, EOG/Devon divs +5%, $1B+ returns Q1; prioritizes shareholder value over growth capex

  • Cost Pressures Persist(BEARISH THEME)
    ◆

    Op ex +13% (EOG), refining costs +8% (MPC), WC use $1.8B (Oxy) compress margins despite topline; 4/4 show expense inflation vs YoY

  • M&A Consolidation Accelerating(BULLISH THEME)
    ◆

    Devon-Coterra approved (close May 7, synergies $1B), CommScope RUCKUS sale; energy M&A valuations TBD but supports scale in fragmented E&P/refining

Watch List(7)

Filing Analyses(13)
DEVON ENERGY CORP/DE8-Kpositivemateriality 9/10

05-05-2026

Devon Energy Corporation held a virtual special stockholder meeting on May 4, 2026, approving the Stock Issuance Proposal for its merger with Coterra Energy Inc. by a vote of 470,046,943 For, 4,149,656 Against, and 1,150,100 Abstain (no broker non-votes). Shareholders also approved the Authorized Share Charter Amendment Proposal to increase authorized common shares from 1,000,000,000 to 2,000,000,000 with 468,262,401 For, 5,833,875 Against, and 1,250,423 Abstain. The merger is expected to close on or about May 7, 2026, subject to customary closing conditions.

  • ·Joint Proxy Statement/Prospectus dated March 30, 2026, first mailed on or about March 30, 2026
  • ·Registration statement on Form S-4 filed March 24, 2026, declared effective March 26, 2026
  • ·Common stock par value $0.10 per share, traded on NYSE under DVN
Marathon Petroleum Corp8-Kmixedmateriality 9/10

05-05-2026

Marathon Petroleum Corp reported first-quarter 2026 net income attributable to MPC of $511 million ($1.73 per diluted share), swinging from a $74 million net loss ($0.24 per diluted share loss) in Q1 2025, with adjusted EBITDA rising to $2,763 million from $1,975 million. Refining & Marketing segment adjusted EBITDA surged to $1,377 million from $489 million on higher crack spreads and margins of $17.74 per barrel (up from $13.38), though Midstream EBITDA declined to $1,598 million from $1,720 million due to derivative losses, and refining operating costs increased to $6.23 per barrel from $5.74. Cash from operations reached $1.1 billion versus a $64 million outflow last year, with $1.0 billion returned to shareholders and a new $5 billion share repurchase authorization announced.

  • ·Crude capacity utilization of 89% in Q1 2026.
  • ·2026 capital spending outlook (ex-MPLX) of $1.5 billion; MPLX $2.4 billion organic growth capital.
  • ·Q2 2026 outlook: Refining operating costs $5.65 per barrel, refinery throughputs 2,990 mbpd.
Williams Jones Wealth Management, LLC.13F-HRneutralmateriality 9/10

05-05-2026

Williams Jones Wealth Management, LLC. filed its Form 13F-HR on May 5, 2026, reporting holdings as of March 31, 2026, across 540 positions all held with sole investment discretion and voting power. Top holdings include Apple Inc. with a market value of $532461514000, Alphabet Inc. Cap Stk Cl A at $452627322000, and Amazon.com Inc. at $234655101000 (values in USD, reported in $000s). No prior period data or changes are specified in the filing.

  • ·Filing effective date: May 5, 2026
  • ·Business address: 717 Fifth Ave, 11th Floor, New York, NY 10022
  • ·All reported holdings designated as SH SOLE with no shared discretion or other voting authority
Duncan Williams Asset Management, LLC13F-HRneutralmateriality 4/10

05-05-2026

Duncan Williams Asset Management, LLC filed its 13F-HR on May 05, 2026, reporting holdings as of March 31, 2026, with a total portfolio value of 360684738 across 154 positions, all held solely. Top holdings include WISDOMTREE US QUALITY DIVIDEND GROWTH FUND ETF at 44602896 (507774 shares), VANGUARD GROWTH ETF at 43227194 (98966 shares), and ISHARES CORE S&P US VALUE ETF at 27655608 (270470 shares). No changes or performance metrics were disclosed in the filing.

  • ·Filing covers period ending 03-31-2026
  • ·All positions reported as SOLE discretionary holdings
  • ·Small discrepancies in share counts (e.g., 507774 vs 507773) likely reflect voting authority details
Copper Property CTL Pass Through Trust8-Kpositivemateriality 6/10

05-05-2026

Copper Property CTL Pass Through Trust made available its monthly report for the period ending April 30, 2026, on its investor website under Regulation FD Disclosure. The Trust also announced a cash distribution of $0.086440 per trust certificate, payable on May 11, 2026, to certificateholders of record as of May 8, 2026.

  • ·Monthly report available at www.ctltrust.net
  • ·Monthly report dated May 8, 2026
  • ·Press release dated May 5, 2026
OCCIDENTAL PETROLEUM CORP /DE/10-Qmixedmateriality 9/10

05-05-2026

Occidental Petroleum reported Q1 2026 net income attributable to common stockholders of $3,175 million, up significantly from $766 million YoY, driven by $3,123 million gain from discontinued operations (OxyChem sale to Berkshire Hathaway). However, income from continuing operations fell to $236 million from $830 million YoY amid lower net sales of $5,230 million (down 8% YoY), while operating cash flow from continuing operations declined 31% to $1,392 million. Cash and equivalents rose to $3,811 million at quarter-end, with long-term debt reduced to $15,247 million from $20,623 million at year-end.

  • ·Capital expenditures of $1,554 million in Q1 2026, down from $1,682 million YoY.
  • ·Asset impairments and other charges of $120 million in Q1 2026.
  • ·Total assets decreased to $80,464 million as of March 31, 2026 from $84,186 million at December 31, 2025.
  • ·Total equity increased to $39,560 million as of March 31, 2026 from $36,598 million at December 31, 2025.
EOG RESOURCES INC8-Kmixedmateriality 9/10

05-05-2026

EOG Resources reported robust Q1 2026 financial results with operating revenues rising 22% YoY to $6,921 million from $5,669 million, fueled by production growth including crude oil volumes up 9% to 548.5 MBbld, NGL volumes up 37% to 332.1 MBbld, and natural gas volumes up 45% to 3,020 MMcfd, leading to net income of $1,980 million (+35% YoY) and cash flow from operations of $2,966 million (+30% YoY). Total crude oil equivalent production increased 27% to 1,383.8 MBoed. However, realized crude oil prices dipped slightly -0.6% to $72.47/Bbl, NGL prices fell 16% to $22.20/Bbl, and total operating expenses rose 13% to $4,323 million.

  • ·Adjusted Net Income (non-GAAP) $1,825 million or $3.41 diluted per share for Q1 2026
  • ·Dividends declared $1.02 per common share in Q1 2026
  • ·Total MMBoe produced 124.5 in Q1 2026 vs 98.1 in Q1 2025
  • ·Net cash used in investing activities $1,545 million in Q1 2026
  • ·Additions to oil and gas properties $1,491 million in Q1 2026
OCCIDENTAL PETROLEUM CORP /DE/8-Kmixedmateriality 9/10

05-05-2026

Occidental Petroleum reported Q1 2026 net income attributable to common stockholders of $3.2 billion ($3.13 diluted EPS), driven by a gain on the OxyChem sale, with adjusted income from continuing operations of $1.1 billion ($1.06 adjusted EPS); the company advanced debt reduction by repaying $7.1 billion in principal debt, reducing it to $13.3 billion toward a $10.0 billion milestone, and generated $1.4 billion operating cash flow ($3.2 billion before working capital) with production of 1,426 Mboed exceeding guidance high-end. However, operating cash flow included a $1.8 billion working capital use due to higher receivables, midstream and marketing reported a pre-tax loss of $87 million (versus $204 million income in Q4 2025), domestic gas prices fell 10% QoQ to $1.01/Mcf, and worldwide production declined slightly QoQ from 1,481 Mboed.

  • ·Average WTI price $71.93 per barrel, Brent $77.93 per barrel.
  • ·Average worldwide realized crude oil price $69.91 per barrel.
  • ·Average worldwide realized NGL price $18.99 per barrel.
  • ·Average domestic realized gas price $1.01 per Mcf.
  • ·Adjusted effective tax rate from continuing operations 26%.
CommScope Holding Company, Inc.8-Kneutralmateriality 9/10

05-05-2026

CommScope Holding Company, Inc., through its subsidiary Vistance Networks, Inc. (Seller), entered into a Purchase Agreement dated April 29, 2026, with Belden Inc. (Buyer) to sell the RUCKUS reporting segment, including Purchased Assets, Purchased Shares, and Assumed Liabilities. The transaction encompasses the design, production, and sale of specified product categories, excluding Shared Services, subject to customary representations, warranties, covenants, and closing conditions. No purchase price or financial terms are disclosed in the provided filing excerpt.

  • ·Agreement Date: April 29, 2026
  • ·Filing Date: May 05, 2026
  • ·Reference balance sheet date: December 31, 2025
  • ·Transaction structure: Asset Purchase and Share Purchase
EOG RESOURCES INC10-Qpositivemateriality 9/10

05-05-2026

EOG Resources Inc. reported robust Q1 2026 financial results with total operating revenues rising 22% YoY to $6,921 million, driven by 60% growth in natural gas revenues to $1,021 million and 16% in NGL to $664 million, while crude oil increased 9% to $3,577 million. Net income grew 35% YoY to $1,980 million ($3.72 basic EPS), and cash from operations increased 30% to $2,966 million; however, operating expenses rose 13% to $4,323 million due to 49% higher gathering, processing, and transportation costs ($654 million) and 18% increase in DD&A ($1,193 million), though impairments declined 11%. Stockholders' equity expanded to $30,908 million at quarter-end.

  • ·Treasury stock repurchased $405 million in Q1 2026 vs $796 million in Q1 2025.
  • ·Dividends declared $1.02 per share in Q1 2026 (total $545 million) vs $0.975 per share in Q1 2025 ($535 million).
  • ·Additions to oil and gas properties $1,491 million in Q1 2026, up 8% YoY.
  • ·Dry hole costs declined 32% YoY to $23 million.
Real Brokerage Inc425neutralmateriality 9/10

05-05-2026

This Rule 425 filing by The Real Brokerage Inc. discloses an Instagram communication posted by Tamir Poleg on May 5, 2026, regarding the proposed merger transaction with RE/MAX Holdings, Inc. The communication includes forward-looking statements on expected benefits, synergies, leverage, timeline, and integration, but emphasizes significant risks such as failure to obtain regulatory or shareholder approvals, integration challenges, potential disruptions, litigation, and unexpected costs. Investors are urged to review upcoming Registration Statement, proxy statement/prospectus, and management information circular for full details.

DEVON ENERGY CORP/DE8-Kpositivemateriality 9/10

05-05-2026

Devon Energy reported strong Q1 2026 results, including oil production of 387,000 barrels per day at the top-end of guidance, total production of 833,000 Boe per day, $1.7 billion operating cash flow, and $816 million free cash flow. Capital investments were $848 million, 6% below midpoint guidance, supporting progress toward the $1 billion annual pre-tax free cash flow improvement target ahead of schedule. The merger with Coterra Energy was approved by shareholders on May 4, 2026, with closure expected around May 7, 2026, promising $1.0 billion in synergies by year-end 2027.

  • ·Q2 2026 standalone production outlook: 851,000 to 868,000 Boe per day (46% oil).
  • ·Post-merger quarterly dividend expected at $0.315 per share for Q2, subject to Board approval.
  • ·Share repurchasing suspended through merger closing.
Marathon Petroleum Corp10-Qmateriality 5/10

05-05-2026

Marathon Petroleum Corp (MPC) reported Q1 2026 revenues of $34,200 million, up 8.5% YoY from $31,517 million, with income from operations more than doubling to $1,404 million from $687 million and net income attributable to MPC swinging to a profit of $511 million ($1.73 per share) from a $74 million loss ($(0.24) per share). However, income from equity method investments declined 23.5% YoY to $176 million from $230 million, noncontrolling interests' net income fell to $340 million from $420 million, and cash equivalents dropped 41.4% QoQ to $2,151 million from $3,672 million. Total assets grew to $88,187 million from $83,955 million QoQ amid

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