Analysts Are Upgrading These 5 Stocks

02. ConocoPhillips (NYSE:COP)

Number of Hedge Fund Holders: 72

ConocoPhillips (NYSE:COP) is an oil and gas company with operations all over the world. According to Wolfe Research analyst Sam Margolin’s research note on July 7, ConocoPhillips (NYSE:COP) has been upgraded from Peerperform to Outperform. Along with the upgrade, Margolin has set a price target of $120. This suggests that the analyst expects ConocoPhillips (NYSE:COP) to outperform its industry peers and reach a target price of $120. Investors should take note of this upgraded recommendation from Wolfe Research when evaluating ConocoPhillips (NYSE:COP) as a potential investment opportunity.

Smead Value Fund made the following comment about ConocoPhillips (NYSE:COP) in its first quarter 2023 investor letter:

“Our biggest detractors were mainly a function of the decline in oil and gas prices. Ovintiv (OVV), which absorbed some of our Continental Resources proceeds and ConocoPhillips (NYSE:COP), declined the most. Bank of America (BAC) got hammered by the Silicon Valley Bank meltdown and fears about our financial system. We’ve owned BAC for over ten years and it has outperformed the rest of our portfolio.”