Phillips 66, Schlumberger NV, HollyFrontier Corp and others are enjoying ongoing uptrends…
Leading equity indices in the US declined as Nasdaq slipped 1.68% and closed at 11,900. S&P 500 shed 1.11% and closed at 4,118.
This downslide might be related to financial indicators data published earlier as highly important Crude Oil Inventories data from United States beat analyst expectations of 2.46 million with a reading of 2.42 million.
What is an uptrend?
An uptrend describes the price movement of a continuously appreciative financial asset over a particular time frame. In an uptrend, each successive peak and trough is higher than the ones found earlier in the trend. The uptrend is therefore composed of higher swing lows and higher swing highs.
Phillips 66 continues a 5 day uptrend; goes up 0.45% yesterday
After setting a $101.24 – $103.65 range, Phillips 66 closed the day at $102.74 having risen 0.45%. Generally flat but with a slight bullish bias, Phillips 66 ranged between $101.24 and $103.65 before closing higher at $102.74. Daily trading volume (3.57 million shares) increased, making up 106% of the 21-day average (3.35 million). Phillips 66 disclosed a quarterly dividend of 97 cents per share on Friday, October 7th that was paid on Thursday, December 1st to all shareholders of record up until Thursday, November 17th. Based on current prices, the company's decision thereby provides Phillips 66 investors with an annual dividend yield of 3.78%.
Schlumberger continues a 4 day uptrend; increases 1.52% yesterday
Yesterday's session pointed in the same direction — the energy tech provider went up to $54.71, gaining 1.52%. After setting a $53.75 – $55.13 range, Schlumberger closed the day at $54.71 having risen 1.52%. The day's trading volume totalled 7.74 million shares — slightly under the 21-day average of 10.40 million.
The company is currently trading with a market cap of $77.70 billion with an average daily trading volume of 10.40 million shares. The energy tech provider has fallen back around 7.82% over the past 23 days, from a notable high of $58.46. So far this year, it has been under-performing the S&P 500 by 2.41%. Schlumberger has a forecast of $6.98 billion with an EPS of 69 cents.
HollyFrontier continues a 9 day uptrend; climbs 2% yesterday
After setting a $35.05 – $37.26 range, HollyFrontier closed the day at $36.39 having risen 2%. HollyFrontier rose 71 cents to close at $36.39 yesterday which makes for a move of 2%. Daily trading volume (4.78 million shares) increased, making up 119% of the 21-day average (4 million).