Yesterday was the last trading day of February and ConocoPhillips (COP) is still the top stock going into March. On February 1st, I bought eleven shares of COP for $90.63 for a total of $996.92. I had $8.96 in cash leftover.
Yesterday, COP’s closing price was $94.86 so the value of the shares is now $1,043.46. Along with the cash balance, I have a grand total of $1,052.42. I started testing with $1,001.66 so this strategy has yielded a return of 5.1 percent over the last ten months. This is modest amid volatility in both the stock market and geopolitical events overall. The S&P 500 went into correction last week and was down 9 percent from its all time time at yesterday’s closing bell. See the table below for a summary of each month’s ending balance and return.
For comparison, the S&P 500 benchmark index fund (SPY) has returned 5.5% over this same period. With the war in Ukraine, look for oil and gasoline prices to remain elevated along with the stocks of companies that produce those products. Check back in a month to find out if COP is still the top stock in the S&P 100.
