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Selling Buzz: Conoco Phillips [COP] Chairman and CEO Lance Ryan Michael sells 607,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Conoco Phillips shares valued at $76,426,824 were sold by Lance Ryan Michael on Mar 25 ’24. At $125.91 per share, Lance Ryan Michael sold 607,000 shares. The insider’s holdings dropped to 6,780 shares worth approximately $0.78 million following the completion of this transaction.

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Also, Olds Nicholas G sold 12,150 shares, netting a total of over 1,536,280 in proceeds. Following the sale of shares at $126.44 each, the insider now holds 14,522 shares.

Before that, Bullock William L. Jr. had sold 45,200 shares from its account. In a trade valued at $5,574,276, the Executive Vice President & CFO traded Conoco Phillips shares for $123.32 each. Upon closing the transaction, the insider’s holdings decreased to 45,200 shares, worth approximately $5.07 million.

Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early April. As of December 14, 2023, Johnson Rice has decreased its “Accumulate” rating to a “Hold” for COP. Earlier on November 14, 2023, Johnson Rice initiated its rating. Their recommendation was “a Accumulate” for COP stock.

Analyzing COP Stock Performance

During the last five days, there has been a surge of approximately 1.12%. Over the course of the year, Conoco Phillips shares have dropped approximately -0.68%. Shares of the company reached a 52-week high of $135.18 on 04/12/24 and a 52-week low of $105.77 on 01/18/24. A 50-day SMA is recorded $118.04, while a 200-day SMA reached $117.68. Nevertheless, trading volume fell to 2.33 million shares from 3.84 million shares the previous day.

Support And Resistance Levels for Conoco Phillips (COP)

According to the 24-hour chart, there is a support level at 113.76, which, if violated, would cause prices to drop to 112.75. In the upper region, resistance lies at 115.72. The next price resistance is at 116.67. RSI (Relative Strength Index) is 51.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.75, which suggests the price will increase in the coming days. Percent R is at 16.25%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

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