This Is What Whales Are Betting On ConocoPhillips
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on ConocoPhillips (NYSE:COP) by a large investor, as observed in the publicly available options history. The overall sentiment of these big-money traders is split between 46% bullish and 53% bearish. The whales have been targeting a price range from $65.0 to $110.0 for ConocoPhillips over the last 3 months. The price of COP is currently down -3.54% at $100.34. Piper Sandler maintains their Overweight rating on ConocoPhillips, with a price target of $125.
July 06, 2023 | 8:31 pm
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A large investor has taken a bearish stance on ConocoPhillips, with the overall sentiment among big-money traders being more bearish than bullish. The current price is down -3.54% at $100.34, but Piper Sandler maintains an Overweight rating with a price target of $125.
The bearish stance taken by a large investor, coupled with the overall bearish sentiment among big-money traders, could potentially drive the price of ConocoPhillips down in the short term. However, Piper Sandler's maintained Overweight rating and price target of $125 suggests a positive outlook in the longer term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100