Conoco Phillips’s recently made public that its Chairman and CEO Lance Ryan Michael unloaded Company’s shares for reported $76.43 million on Mar 25 ’24. In the deal valued at $125.91 per share,607,000 shares were sold. As a result of this transaction, Lance Ryan Michael now holds 6,780 shares worth roughly $0.91 million.
Then, Olds Nicholas G sold 12,150 shares, generating $1,536,280 in total proceeds. Upon selling the shares at $126.44, the Executive Vice President now owns 14,522 shares.
Before that, Bullock William L. Jr. sold 45,200 shares. Conoco Phillips shares valued at $5,574,276 were divested by the Executive Vice President & CFO at a price of $123.32 per share. As a result of the transaction, Bullock William L. Jr. now holds 44,153 shares, worth roughly $5.9 million.
Johnson Rice downgraded its Conoco Phillips [COP] rating to a Hold from a a Accumulate in a research note published recently. A number of analysts have revised their coverage, including Johnson Rice’s analysts, who began to cover the stock in mid November with a ‘”a Accumulate”‘ rating. Wolfe Research also remained covering COP and has increased its forecast on July 07, 2023 with a “an Outperform” recommendation from previously “Peer perform” rating. UBS started covering the stock on April 19, 2023. It rated COP as “a Buy”.
Price Performance Review of COP
On Friday, Conoco Phillips [NYSE:COP] saw its stock jump 1.34% to $133.52. Over the last five days, the stock has gained 4.90%. Conoco Phillips shares have risen nearly 15.24% since the year began. Nevertheless, the stocks have risen 27.23% over the past one year. While a 52-week high of $132.43 was reached on 04/05/24, a 52-week low of $94.48 was recorded on 01/18/24. SMA at 50 days reached $116.52, while 200 days put it at $115.58. A total of 3.59 million shares were traded, compared to the trading of 3.91 million shares in the previous session.
Levels Of Support And Resistance For COP Stock
The 24-hour chart illustrates a support level at 131.86, which if violated will result in even more drops to 130.20. On the upside, there is a resistance level at 134.51. A further resistance level may holdings at 135.50. The Relative Strength Index (RSI) on the 14-day chart is 86.54, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.63, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.18%. Stochastics %K at 96.64% indicates the stock is a selling.
How much short interest is there in Conoco Phillips?
A steep rise in short interest was recorded in Conoco Phillips stocks on Mar 15, 2024, growing by 1.33 million shares to a total of 13.66 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 12.33 million shares. There was a rise of 9.74%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.16% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.06.
