Watch for Continued Gains in Shares of ConocoPhillips (COP)

ConocoPhillips (NYSE:COP) traded today at a new 12-month high of $108.67. This new high was reached on below average trading volume as 2.7 million shares traded hands, while the average 30-day volume is approximately 7.4 million shares.

In the past 12 months, ConocoPhillips share prices are bracketed by a low of $51.41 and a high of $108.67 and are now at $108.23, 111% above that low price.

ConocoPhillips is a U.S.-based independent exploration and production firm. At the end of 2020, it produced 727,000 barrels per day of oil and natural gas liquids and 2.4 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2020 were 4.5 billion barrels of oil equivalent.

ConocoPhillips is currently priced 39.5% above its average consensus analyst price target of $65.45.

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