- Marzo 28, 2023
- Posted by: Oliver
- Categoria: Economics, Finance & accounting
ConocoPhillips is an American oil and gas company engaged in hydrocarbon exploration and production. Year to date, COP stock is down 14.4%. The recent turmoil in the banking sector is keeping oil prices low. McCaul bought COP stock on February 13 in the range of $100-$250K. Since that day, COP stock has lost over 14%.
Based on 12 Buys and four Hold ratings, COP stock has a Strong Buy consensus rating on TipRanks. Also, the average ConocoPhillips price forecast of $139.20 implies 44.4% upside potential from current levels.
Top insiders also have a Positive signal on COP stock as three corporate insiders bought COP stock worth $1.2 million in the past three months.
Having said that, hedge funds are shunning the stock as excess inventory and fears of a looming recession weigh upon the oil and gas sector’s outlook. During the last quarter, 23 hedge funds sold 7.2 million shares of ConocoPhillips, giving it a Very Negative signal.
Nevertheless, COP stock has an Outperform Smart Score of eight, boosted by increasing buys from retail investors and overall Bullish Blogger opinions.
