ConocoPhillips (COP.N) may put two refineries on the U.S. East Coast up for sale, an analysts said on Tuesday. "Conoco has indicated its intent to sell its east coast Linden and Trainer refineries," analysts at energy investment bank Simmons & Co said in a note to clients on Wednesday. The company, which has plans to split off its refining arm, has said on a number of occasions that it may sell less sophisticated refining assets. A representative was no immediately available to comment. Sunoco Inc (SUN.N) said on Wednesday it plans to sell its two remaining refineries.
ConocoPhillips is an international, integrated energy company. Shares of COP fell by 1.1% or $-0.73/share to $65.71. In the past year, the shares have traded as low as $53.59 and as high as $81.80. On average, 11458400 shares of COP exchange hands on a given day and today's volume is recorded at 10579659.
Sunoco, Inc. (Sunoco) through its subsidiaries, is principally a petroleum refiner and marketer and chemicals manufacturer with interests in logistics and cokemaking. Shares of SUN traded higher by 5.34% or $1.93/share to $38.04. In the past year, the shares have traded as low as $27.76 and as high as $46.98. On average, 3356810 shares of SUN exchange hands on a given day and today's volume is recorded at 9119421.
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