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Checking in on Conoco Phillips (COP) after recent insiders movement

Conoco Phillips’s recent filing unveils 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 $0.83 million.

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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 $5.38 million.

Barclays initiated its Conoco Phillips [COP] rating to an Overweight in a research note published on April 10, 2024; the price target was $158. A number of analysts have revised their coverage, including Johnson Rice’s analysts, who decreased its forecast for the stock in mid December from “a Accumulate” to “a Hold”. Johnson Rice began covering COP with “Accumulate” recommendation on November 14, 2023. Wolfe Research revised its rating on July 07, 2023. It rated COP as “an Outperform” which previously was an “a Peer perform”.

Price Performance Review of COP

On Friday, Conoco Phillips [NYSE:COP] saw its stock fall -1.04% to $121.91. Over the last five days, the stock has lost -0.10%. Conoco Phillips shares have risen nearly 5.39% since the year began. Nevertheless, the stocks have risen 23.10% over the past one year. While a 52-week high of $134.96 was reached on 04/12/24, a 52-week low of $96.02 was recorded on 01/18/24. SMA at 50 days reached $124.63, while 200 days put it at $118.23. A total of 4.52 million shares were traded, compared to the trading of 5.43 million shares in the previous session.

Levels Of Support And Resistance For COP Stock

The 24-hour chart illustrates a support level at 120.99, which if violated will result in even more drops to 120.08. On the upside, there is a resistance level at 123.40. A further resistance level may holdings at 124.90. The Relative Strength Index (RSI) on the 14-day chart is 35.64, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.90, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.54%. Stochastics %K at 19.32% indicates the stock is a buying.

The most recent change occurred on April 19, 2023 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $139 price target.

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