ConocoPhillips (NYSE:COP) shares, rose in value on Thursday, May 25, with the stock price down by -2.04% to the previous day’s close as strong demand from buyers drove the stock to $101.86.
Actively observing the price movement in the recent trading, the stock is buoying the session at $103.98, falling within a range of $103.47 and $105.68. The value of beta (5-year monthly) is 1.32 whereas the PE ratio is 8.29 over 12-month period. Referring to stock’s 52-week performance, its high was $136.78, and the low was $76.24. On the whole, COP has fluctuated by 1.38% over the past month.
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With the market capitalization of ConocoPhillips currently standing at about $123.54 billion, investors are eagerly awaiting this quarter’s results, scheduled for Aug 02, 2023 – Aug 07, 2023. The company’s Forward Dividend Ratio is 5.29, with its dividend yield at 5.09%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $2.22, which is expected to increase to $4.02 for fiscal year $9.76 and then to about $10.67 by fiscal year 2024. Data indicates that the EPS growth is expected to be -27.80% in 2024, while the next year’s EPS growth is forecast to be 9.30%.
Analysts have estimated the company’s revenue for the quarter at $15.65 billion, with a low estimate of $14.01 billion and a high estimate of $17.49 billion. According to the average forecast, sales growth in current quarter could jump down -28.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $63.69 billion, representing a decrease of -22.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that COP’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of COP currently trading nearly 1.06% and 0.44% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 50.09, while the 7-day volatility ratio is showing 1.89% which for the 30-day chart, stands at 2.40%. Furthermore, ConocoPhillips (COP)’s beta value is 1.32, and its average true range (ATR) is 2.69.
A comparison of ConocoPhillips (COP) with its peers suggests the former has fared considerably weaker in the market. COP showed an intraday change of -2.04% in today’s session so far, and over the past year, it shrunk by -3.70%%. On the other hand, the price of Exxon Mobil Corporation (XOM) has fallen -1.74% today. The stock, however, is off 11.99% from where it was a year ago. Additionally, there is a loss of -1.38% for Chevron Corporation (CVX) in recent trading while the stock has seen an overall depriciation of -10.16%% over the past year. The PE ratio stands at 8.29 for ConocoPhillips, and 7.28 for Exxon Mobil Corporation. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.66%. Meanwhile, the Dow Jones Industrial Slipped by -0.18%.
Data on historical trading for ConocoPhillips (NYSE:COP) indicates that the trading volumes over the past 10 days have averaged 5.4 million and over the past 3 months, they’ve averaged 6.40 million. According to company’s latest data on outstanding shares, there are 1.22 billion shares outstanding.
Nearly 0.10% of ConocoPhillips’s shares belong to company insiders and institutional investors own 83.40% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.14 million shares as on May 14, 2023, resulting in a short ratio of 1.77. According to the data, the short interest in ConocoPhillips (COP) stood at 0.84% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 12.06 million. The stock has fallen by -13.14% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the COP stock heading into the next quarter.