The backtest results show that COP's stock has a low short-term win rate of 36.36% over 3 days and 45.45% over 10 days following an earnings beat, with negative returns in these periods. However, the 30-day win rate improves to 54.55%, accompanied by a modest positive return of 1.65%. This indicates a delayed positive market reaction to earnings beats. Investors should be cautious about immediate post-earnings positions but may consider holding COP for at least a month to capture potential gains.

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The backtest results show that the Oil, Gas & Consumable Fuels industry experienced no significant impact following earnings beats, with a maximum return of only 1.07% observed over a 50-day period. This indicates that earnings beats in this sector do not translate into meaningful price movements. Consequently, investors should be cautious about expecting strong positive returns solely based on earnings beats in this industry, as the event appears to have limited influence on stock performance.

The backtest results reveal a positive market impact following ConocoPhillips' earnings beat, with Electric Utilities showing significant gains while Forestry and Paper Products experienced declines. This divergence reflects stronger energy sector fundamentals boosting energy demand confidence, benefiting utilities. Conversely, increased energy prices raise costs for energy-intensive industries, negatively affecting Forestry and Paper Products. The analysis highlights the sector-specific consequences of energy price shifts triggered by earnings surprises. Investors may consider overweighting Electric Utilities to capitalize on rising energy demand and underweighting Forestry and Paper Products due to their vulnerability to higher energy costs.

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Backtest COP Earning Beats

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