Yahoo Finance Here's Why ConocoPhillips (COP) is a Strong Momentum Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
ConocoPhillips (COP)
Headquartered in Houston, TX, ConocoPhillips is primarily involved in the exploration and production of oil and natural gas. Considering proved reserves and production, the company is among the largest explorers and producers in the world. The company, founded in 1875, has a strong presence across conventional and unconventional plays in 13 countries. ConocoPhillips’ low-risk and cost-effective operations are spread across North America, Asia, Australia and Europe.
COP sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is up 0.7% and up 1.9% over the past one-week and four-week period, respectively, and ConocoPhillips has gained 28.7% in the last one-year period as well. Additionally, an average of 3,857,790 shares were traded over the last 20 trading sessions.
Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Seven analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.50 to $9.57 per share. COP boasts an average earnings surprise of 8.5%.
COP should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.
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ConocoPhillips (COP) : Free Stock Analysis Report
