NEW YORK (TheStreet) -- ConocoPhillips (COP) shares reached a 52-week high today, rising 0.8% to $86.03, as the oil manufacturer continues to see worldwide oil prices spike due to conflict in the Middle East.
The conflict in Iraq has driven oil prices up to levels not seen since September of last year. Iraq's reserves are the fifth largest in the world.
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TheStreet Ratings team rates CONOCOPHILLIPS as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CONOCOPHILLIPS (COP) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, good cash flow from operations and growth in earnings per share. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."