ConocoPhillips (COP) - Get Report shares were up 7.57% to $49.43 on more than three times its normal volume in afternoon trading Thursday after the oil company announced that it was divesting from certain Canadian properties.

TheStreet's Jim Cramer believes the move is a good move for the company.

ConocoPhillips shares closed trading up $8.81% to $50 on Thursday. 

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You can read Real Money's take on ConocoPhillips here.

Story has been updated since its original publishing at 3:07 pm EST.