Why ConocoPhillips Shares Jumped 36.7% in April
Shares of the ConocoPhillips (NYSE: COP), the largest U.S. oil and gas exploration and production company (E&P), rose 36.7% in April, according to data provided by S&P Global Market Intelligence. The move partially reversed the losses the company experienced in March, when its shares fell by 36.4%.
However, even though April's percentage gain was nearly identical to March's percentage loss, the April percentage comes from a lower baseline, so Conoco's price declined by 13.1% over the combined two-month period. Since the beginning of the year, the company's shares have lost 37.1% of their value.
Image source: Getty Images.
Source Fool.com
