ConocoPhillips (COP) : The total negative money flow of $14.82 million on Wednesday indicates selling on strength. The inflow of money on upticks was $43.11 million, compared to $57.92 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.74. The negative money flow of $13.05 million in block trades reveals that the informed traders sold the stock on every bit of price strength. The traded value of the stock on uptick was $0.57 million in a block trade.The transaction value of block trade on downtick was $13.62 million. The uptick to downtick ratio was 0.04. The price action in the ConocoPhillips (COP) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $42.03 with a gain of $0.12 , a change of 0.29% over the previous days close. The stock registered -2.12% for the week.
Also, In a research note released to the investors, JP Morgan upgrades its rating on ConocoPhillips (NYSE:COP).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Underweight by the brokerage firm. The rating by the firm was issued on July 11, 2016.
ConocoPhillips (NYSE:COP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $41.72 and $41.28 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $42.33. The buying momentum continued till the end and the stock did not give up its gains. It closed at $42.03, notching a gain of 0.29% for the day. The total traded volume was 6,695,857 . The stock had closed at $41.91 on the previous day.
The stock has recorded a 20-day Moving Average of 2.08% and the 50-Day Moving Average is 3.72%. In a related news, Murti Arjun N, director of Conocophillips, had purchased 7,500 shares on March 9, 2016. The total value of the transaction was $294,300. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
ConocoPhillips (ConocoPhillips) is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through six operating segments, which are primarily defined by geographic region: Alaska, Lower 48, Canada, Europe, Asia Pacific and Middle East, and Other International. The Companys continuing operations are producing in the United States, Norway, the United Kingdom, Canada, Australia, Timor-Leste, Indonesia, China, Malaysia, Qatar, Libya and Russia. The Company has major ownership interests in two of North Americas oil fields located on Alaskas North Slope: Prudhoe Bay and Kuparuk.