X
<

How ConocoPhillips Stock Performed Last Week

PART:
1 2 3 4
How ConocoPhillips Stock Performed Last Week PART 1 OF 4

How ConocoPhillips Stock Performed Last Week

Crude oil prices moved upward

In the week ended March 9, 2018, crude oil (USO) (USL) increased moderately, from $61.25 per barrel to $62.04 per barrel, an increase of more than 1%. Crude oil saw a mixed trend in the week, rising on Monday and Tuesday to regain its 50-day moving average. However, prices then fell on Wednesday and Thursday before rising again on Friday to close the week positively. Currently, crude oil is trading at $62.04, below its 50-day moving average of $62.57 but above its 200-day moving average of $53.59.

How ConocoPhillips Stock Performed Last Week

Interested in COP? Don't miss the next report.

Receive e-mail alerts for new research on COP

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

Last week, natural gas rose for a third week, from $2.69 per MMBtu (million British thermal units) to $2.73 per MMBtu.

ConocoPhillips’s stock price

Due to higher crude oil (USO) prices last week, ConocoPhillips stock rose ~2%, from $54.06 to $55.06. The stock increased strongly on Friday, mainly due to crude oil prices rising that day.

Last week, ConocoPhillips stock fell below its 50-day moving average, and unless COP moves above it, a new uptrend is unlikely. COP’s 50-day moving average is an important resistance level. Correction in COP’s stock ended in December 2017, when COP moved above its 50-day moving average. As of March 9, COP was trading at $55.06, whereas its 50-day and 200-day moving averages were $56.36 and $49.31, respectively.

Peer comparison

Due to higher crude oil prices last week, the Energy Select Sector SPDR ETF (XLE) rose~2%. ConocoPhillips peers that also underperformed the Energy Select Sector SPDR ETF (XLE) included EOG Resources (EOG) and Pioneer Natural Resources (PXD). EOG and PXD increased by ~1% and ~2%, respectively, last week. In the next part, we’ll look at COP’s correlation with crude oil.

X

Please select a profession that best describes you: