ConocoPhillips (COP): What’s the Story?

ConocoPhillips (COP) is an interesting player in the Basic Materials space, with a focus on Independent Oil & Gas. The stock has been active on the tape, currently trading at $53.96, down from yesterday’s close by -1.42%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

ConocoPhillips (COP) currently trades with a market capitalization of $62.76 Billion. That value represents a market adjusting for revenues that have been growing by 22.84 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of $2.49 Billion over the past twelve months. Generally speaking, earnings are expected to hold steady in coming quarters. Analysts are forecasting earnings of $0.65 on a per share basis this quarter. Perhaps, that suggests something about why 0.26% of the outstanding share supply is held by institutional investors.

Technical Analysis

As most professionals know, technical analysis can offer critical insights into what smart money and insiders think about a stock’s prospects going forward. Looking at the stock’s movement on the chart, ConocoPhillips recorded a 52-week high of $61.31. It is now trading 7.35% off that level. The stock is trading $56.51 its 50-day moving average by 2.55%. The stock carved out a 52-week low down at $42.26.

In recent action, ConocoPhillips (COP) has made a move of +1.03% over the past month, which has come on weak relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 16.68, and it’s gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 2.09% with $1.16 Billion sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of COP.

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