ConocoPhillips (COP) Offering Possible 7.42% Return Over the Next 9 Calendar Days

ConocoPhillips's most recent trend suggests a bearish bias. One trading opportunity on ConocoPhillips is a Bear Call Spread using a strike $55.50 short call and a strike $61.00 long call offers a potential 7.42% return on risk over the next 9 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $55.50 by expiration. The full premium credit of $0.38 would be kept by the premium seller. The risk of $5.12 would be incurred if the stock rose above the $61.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for ConocoPhillips is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for ConocoPhillips is bearish.

The RSI indicator is at 23.69 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for ConocoPhillips

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Tue, 08 Oct 2019 08:26:08 +0000
The Zacks Analyst Blog Highlights: ExxonMobil, ConocoPhillips, Valero Energy, Phillips 66 and Marathon Petroleum

3 Major Indexes Are Positive on Monday
Mon, 07 Oct 2019 20:09:32 +0000
Simply Good Foods updates full-year guidance Continue reading…

Conoco Stock Is Up the Oil Company Boosted Its Dividend
Mon, 07 Oct 2019 16:41:00 +0000
(COP) surprised Wall Street by raising its dividend and announcing a $3 billion buyback program on Monday, and shareholders were clearly impressed. West Texas Intermediate crude futures were up 1.6% to $53.67. Some investors have questioned whether the company will need to make an acquisition to add to its oil reserves, which aren’t quite as robust as those of some competitors, although the general preference on Wall Street is that oil companies return cash to shareholders rather than spend it on acquisitions.

Things You Should Know About the EIA Crude Inventory Report
Mon, 07 Oct 2019 13:15:01 +0000
The federal government's EIA report revealed that crude inventories rose by 3.1 million barrels, compared to the 1.3 million barrels increase that energy analysts had expected.

ConocoPhillips raises quarterly dividend by 38% to 42 cents, to buy back $3 billion of stock in 2020
Mon, 07 Oct 2019 12:35:00 +0000
ConocoPhillips said Monday it is raising its quarterly dividend by 38% to 42 cents a share and said it expects to buy back $3 billion of its shares in 2020. The new dividend will be payable Dec. 2 to shareholders of record as of close of business on Oct. 17. The company will hold an investor meeting in Houston on Nov. 19. Shares rose 1.8% premarket, but have fallen 14% in 2019, while the S&P 500 has gained 18%.

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