Conoco Phillips [COP] is -1.74% lower this YTD. Is it still time to buy?

Conoco Phillips [NYSE: COP] traded at a high on Tuesday, posting a 2.20 gain after which it closed the day’ session at $114.05. The company report on December 22, 2023 at 4:30 PM that ConocoPhillips Makes Final Investment Decision to Develop the Willow Project.

ConocoPhillips (NYSE: COP) announced today that it will move forward with development of the Willow project in Alaska. This Final Investment Decision approves the project and funds construction needed to reach first oil. The decision follows the Department of the Interior March 2023 Record of Decision and recent positive court orders, including this week’s Ninth Circuit Court of Appeals denial of plaintiffs’ request for an injunction.

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“We are excited to reach this significant milestone,” said Ryan Lance, chairman and chief executive officer. “With this project authorization, we’ve begun winter construction and Alaskans have started to receive the benefits from responsible energy development.”.

The results of the trading session contributed to over 5697176 shares changing hands. Over the past one week, the price volatility of Conoco Phillips stands at 2.11% while the volatility over the past one month is 2.02%.

The market cap for COP stock reached $135.42 billion, with 1.22 billion shares outstanding and 1.19 billion shares in the current float. Compared to the average trading volume of 5.91M shares, COP reached a trading volume of 5697176 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Conoco Phillips [COP]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COP shares is $135.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COP stock is a recommendation set at 1.55. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Johnson Rice have made an estimate for Conoco Phillips shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 14, 2023.

The Average True Range (ATR) for Conoco Phillips is set at 2.31, with the Price to Sales ratio for COP stock in the period of the last 12 months amounting to 2.28. The Price to Book ratio for the last quarter was 2.84, with the Price to Cash per share for the same quarter was set at 7.96. Price to Free Cash Flow for COP in the course of the last twelve months was 13.03 with Quick ratio for the last quarter at 1.53.

How has COP stock performed recently?

Conoco Phillips [COP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.61. With this latest performance, COP shares dropped by -2.10% in over the last four-week period, additionally sinking by -2.63% over the last 6 months – not to mention a drop of -6.14% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COP stock in for the last two-week period is set at 55.67, with the RSI for the last a single of trading hit 62.71, and the three-weeks RSI is set at 52.27 for Conoco Phillips [COP]. The present Moving Average for the last 50 days of trading for this stock 113.57, while it was recorded at 111.92 for the last single week of trading, and 112.18 for the last 200 days.

Conoco Phillips [COP]: Deeper insight into the fundamentals

Conoco Phillips’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.53 and a Current Ratio set at 1.66.

Earnings analysis for Conoco Phillips [COP]

With the latest financial reports released by the company, Conoco Phillips posted 2.71/share EPS, while the average EPS was predicted by analysts to be reported at 2.81/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Conoco Phillips go to -10.12%.

Insider trade positions for Conoco Phillips [COP]

The top three institutional holders of COP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in COP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in COP stock with ownership which is approximately 5.8325%.