Market Whales and Their Recent Bets on COP Options
Portfolio Pulse from Benzinga Insights
Financial giants have shown a bearish sentiment towards ConocoPhillips (NYSE:COP) through options trading, with 75% of trades being bearish. The trading activity suggests a target price range of $90.0 to $135.0 for COP. The company's current stock price is $123.03, with a recent analyst downgrade from Mizuho to Neutral and a price target adjustment to $139. Piper Sandler maintains an Overweight rating with a target price of $133. The next earnings report is expected in 41 days.
March 22, 2024 | 8:30 pm
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ConocoPhillips has seen a bearish sentiment in options trading, with a significant portion of trades predicting a price range of $90 to $135. The stock is currently at $123.03, with mixed analyst ratings and an upcoming earnings report.
The bearish sentiment in options trading could indicate a short-term downward pressure on COP's stock price. However, the mixed analyst ratings and the anticipation of the upcoming earnings report introduce uncertainty, making the short-term impact neutral. The high relevance is due to the direct mention and detailed analysis of COP's trading activity and analyst ratings.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100