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May 17, 2019

Oil prices surge further as Saudi retaliates at Iran with air strikes

Crude oil prices surged as high as 2% on Thursday as tensions between Iran and Saudi Arabia continue to escalate over Saudi-led coalition’s launch of air strikes on Iran in retaliation of the latter’s attack on Saudi’s oil infrastructure.

U.S West Texas Intermediate crude settled 85 cents higher at $62.87 per barrel, gaining 1.4% and closing at the highest level in two weeks. Likewise, Brent crude, the international benchmark for oil prices, also surged 85 cents or 1.2%, to close at $72.62 touching its highest level in three weeks.

The Saudi-led air strikes in Yemen were launched after the Iranian-aligned movement admitted their drone attacks on two Saudi oil pumping stations earlier in the week. Owing to this escalated tension, oil markets will have a tough time trading lower in near future.

Iran’s attack and Saudi’s subsequent retaliation have put pressure on oil supply in the Middle East. Asian shippers heading to the Middle East have been duly alerted by the concerned countries and are expecting possible rise in marine insurance premiums post the attack.

The problem is further worsened as OPEC and other oil producing countries will continue with their supply cut that has already rise oil prices by more than 30%. The OPEC members are scheduled to meet in June to rethink the pact.

Related Ticker: COP

COP in downward trend: price may drop because broke its higher Bollinger Band on June 24, 2024

COP broke above its upper Bollinger Band on June 24, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 33 similar instances where the stock broke above the upper band. In of the 33 cases the stock fell afterwards. This puts the odds of success at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 69 cases where COP's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

COP moved below its 50-day moving average on July 19, 2024 date and that indicates a change from an upward trend to a downward trend.

The 50-day moving average for COP moved below the 200-day moving average on July 11, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where COP declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Bullish Trend Analysis

The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where COP's RSI Oscillator exited the oversold zone, of 21 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .

The Momentum Indicator moved above the 0 level on July 15, 2024. You may want to consider a long position or call options on COP as a result. In of 83 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for COP just turned positive on June 20, 2024. Looking at past instances where COP's MACD turned positive, the stock continued to rise in of 40 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where COP advanced for three days, in of 315 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 326 cases where COP Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 75%.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 74, placing this stock better than average.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.072) is normal, around the industry mean (5.006). P/E Ratio (14.203) is within average values for comparable stocks, (19.280). Projected Growth (PEG Ratio) (0.867) is also within normal values, averaging (5.240). Dividend Yield (0.019) settles around the average of (0.082) among similar stocks. P/S Ratio (2.763) is also within normal values, averaging (154.909).

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. COP’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.

Notable companies

The most notable companies in this group are ConocoPhillips (NYSE:COP), Canadian Natural Resources Limited (NYSE:CNQ), EOG Resources (NYSE:EOG), Pioneer Natural Resource Co (null:PXD), Occidental Petroleum Corp (NYSE:OXY), Hess Corp (NYSE:HES), Diamondback Energy (NASDAQ:FANG), Devon Energy Corp (NYSE:DVN), EQT Corp (NYSE:EQT), Marathon Oil Corp (NYSE:MRO).

Industry description

The oil and gas production segment includes companies that specialize in exploration, development, and production of oil and natural gas. These companies are focused on upstream operations. Companies typically identify deposits, drill wells, and extract raw materials from underground. The industry also includes related services like rig operations, feasibility studies, machinery rentals etc. Several operators in this industry work with various types of contractors such as engineering procurement and construction contractors, as well as with joint-venture partners and oil field service companies. Oil and gas often involves large fixed costs of production; so, declining crude oil prices, for example, is a potential negative for this industry. Conoco Phillips, EOG Resources, Inc. and Pioneer Natural Resources Company are some examples of companies operating in this space.

Market Cap

The average market capitalization across the Oil & Gas Production Industry is 4.06B. The market cap for tickers in the group ranges from 3.28K to 151.38B. COP holds the highest valuation in this group at 151.38B. The lowest valued company is PSTRQ at 3.28K.

High and low price notable news

The average weekly price growth across all stocks in the Oil & Gas Production Industry was 0%. For the same Industry, the average monthly price growth was 4%, and the average quarterly price growth was 9%. ATUUF experienced the highest price growth at 90%, while PTCO experienced the biggest fall at -47%.

Volume

The average weekly volume growth across all stocks in the Oil & Gas Production Industry was 57%. For the same stocks of the Industry, the average monthly volume growth was 24% and the average quarterly volume growth was 20%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 54
P/E Growth Rating: 46
Price Growth Rating: 50
SMR Rating: 75
Profit Risk Rating: 73
Seasonality Score: -5 (-100 ... +100)
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A.I.Advisor
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A.I. Advisor
published General Information

General Information

a producer of wholesales oil and natural gas

Industry OilGasProduction

Profile
Fundamentals
Details
Industry
Oil And Gas Production
Address
925 North Eldridge Parkway
Phone
+1 281 293-1000
Employees
9900
Web
https://www.conocophillips.com
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