Brent crude futures, which tanked by ~6% on Friday, increased by $1.71 or 2.9% on Monday to stand at $60.51 a barrel. U.S. West Texas Intermediate crude futures, which sank nearly 7.7% on Friday, rose by $1.28 or 2.5% to stand at $51.70 a barrel.
Although the gains partly made up for Friday’s losses, oil and gas analysts are of the opinion that uncertainty over global economic growth limited gains and they are concerned whether oil can hold on to the $60 mark, considering broad market weakness.
With the International Energy Agency already revising their initial estimate for the demand growth rate from 1.5 million barrels per day to 1.4 million barrels per day in just three months, analysts aren’t expecting any sustainable long-term oil price gain.
The 10-day RSI Oscillator for COP moved out of overbought territory on April 12, 2024. This could be a sign that the stock is shifting from an upward trend to a downward trend. Traders may want to look at selling the stock or buying put options. Tickeron's A.I.dvisor looked at 43 instances where the indicator moved out of the overbought zone. In of the 43 cases the stock moved lower in the days that followed. This puts the odds of a move down at .
The Momentum Indicator moved below the 0 level on April 16, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on COP as a result. In of 88 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for COP turned negative on April 12, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 43 similar instances when the indicator turned negative. In of the 43 cases the stock turned lower in the days that followed. This puts the odds of success at .
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 .
COP broke above its upper Bollinger Band on March 13, 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 Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.
The 50-day moving average for COP moved above the 200-day moving average on March 27, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where COP advanced for three days, in of 312 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 305 cases where COP Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
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 75, 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 Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. COP’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued 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 (5.854). P/E Ratio (14.203) is within average values for comparable stocks, (18.621). Projected Growth (PEG Ratio) (0.867) is also within normal values, averaging (5.068). Dividend Yield (0.019) settles around the average of (0.083) among similar stocks. P/S Ratio (2.763) is also within normal values, averaging (148.486).
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a producer of wholesales oil and natural gas
Industry OilGasProduction