ConocoPhillips (COP) Stock Rising With Rallying Oil Prices

ConocoPhillips (COP) stock is moving up today as oil rebounds from two days of drops.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of ConocoPhillips (COP) - Get Report  are up 1.3% to $42.05 this afternoon as oil prices begin to rise following two consecutive days of declines.

Oil prices fell to two-month lows yesterday after the U.S. government released a report that weekly oil inventories had dropped far less than expected.

Crude oil (WTI) is up 0.47% to $45.35 per barrel today and Brent crude is up 0.63% to $46.69 per barrel.

The turnaround today has been spurred by a positive U.S. monthly jobs report showing a rapid acceleration in U.S. jobs growth for the month of June, easing market concerns. 

The Baker Hughes (BHI) weekly active rig count went up by a total of 9 for the U.S., with 440 rigs currently in use.

Conoco Phillips had for some time been looking to explore in the Arctic Ocean by Alaska, but regulations coming down from the U.S. Interior Department yesterday requiring extensive contingency plans for companies drilling in the region may stop those talks.

Separately, TheStreet Ratings rated this stock as a "sell" with a ratings score of D+.

The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, poor profit margins, weak operating cash flow, disappointing return on equity and generally disappointing historical performance in the stock itself.

You can view the full analysis from the report here: COP

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

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