Will This Price Target Increase Help ConocoPhillips (COP) Today?

Story updated at 10 a.m. to reflect market activity.

NEW YORK (TheStreet) --Barclays raised its price target for ConocoPhillips (COP) to $88 from $83 Friday, reiterating its "overweight" rating for the stock.

ConocoPhillips gained 1% to $75.77 in morning trading.

The price target increased was driven by trading profit, a favorable oil and gas mix, and lower DD&A and cash lifting costs.

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Separately, TheStreet Ratings team rates CONOCOPHILLIPS as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate CONOCOPHILLIPS (COP) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, attractive valuation levels, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • Compared to its closing price of one year ago, COP's share price has jumped by 27.85%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, although almost any stock can fall in a broad market decline, COP should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income increased by 74.4% when compared to the same quarter one year prior, rising from $1,426.00 million to $2,487.00 million.
  • 38.26% is the gross profit margin for CONOCOPHILLIPS which we consider to be strong. It has increased from the same quarter the previous year. Along with this, the net profit margin of 18.76% significantly outperformed against the industry average.
  • Net operating cash flow has slightly increased to $3,911.00 million or 1.05% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of -22.86%.
  • You can view the full analysis from the report here: COP Ratings Report

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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