COP Stock Summary and Trading Ideas (Conocophillips | NYSE:COP)

ConocoPhillips is a US-based independent exploration and production firm. In 2023, it produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2023 were 6.8 billion barrels of oil equivalent.

Conocophillips trades on the NYSE stock market under the symbol COP.

As of May 13, 2024, COP stock price climbed to $122.09 with 462,644 million shares trading.

COP has a beta of 0.55, meaning it tends to be less sensitive to market movements. COP has a correlation of 0.10 to the broad based SPY ETF.

COP has a market cap of $143.63 billion. This is considered a Large Cap stock.

Last quarter Conocophillips reported $14 billion in Revenue and $2.03 earnings per share. This fell short of revenue expectation by $-574 million and missed earnings estimates by -$.01.

In the last 3 years, COP stock traded as high as $138.49 and as low as $51.41.

The top ETF exchange traded funds that COP belongs to (by Net Assets): VTI, VOO, XLE, SPY, IVV.

COP has underperformed the market in the last year with a price return of +25.9% while the SPY ETF gained +28.0%. However, in the short term, COP had mixed performance relative to the market. It has outperformed in the last 3 months, returning +11.2% vs +4.4% return in SPY. But in the last 2 weeks, COP shares have been beat by the market, returning -5.7% compared to an SPY return of +2.6%.

COP support price is $120.26 and resistance is $123.56 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that COP stock will trade within this expected range on the day.