Canadian Overseas Petroleum (LSE:COPL) Momentum Rank : 0 (As of Jun. 05, 2024)

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What is Canadian Overseas Petroleum Momentum Rank?

Canadian Overseas Petroleum has the Momentum Rank of 0.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

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Canadian Overseas Petroleum (LSE:COPL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Canadian Overseas Petroleum Ltd (LSE:COPL) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

VELXF:USA V9L:Germany XOP:Canada

Address

715 - 5th Avenue South West, Suite 3200, Calgary, AB, CAN, T2P 2X6

Website

https://www.canoverseas.com

Canadian Overseas Petroleum Ltd is an international oil and gas exploration, development and production company pursuing opportunities in the United States with operations in Converse County Wyoming, and in sub-Saharan Africa and independently in other countries. The company's Wyoming operations are environmentally responsible with minimal gas flaring and methane emissions combined with electricity sourced from a neighboring wind farm to power production facilities.

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