Price Bump On Oil Sands Sale Lands ConocoPhillips A Buy Rating From Vetr

The Vetr crowd on Friday downgraded their rating for ConocoPhillips COP from 5 stars (Strong Buy), issued 23 days ago, to 4 stars (Buy). Crowd sentiment at the time of the downgrade was unanimously positive, with 100 percent of Vetr user ratings bullish.

Shares of ConocoPhillios received a 7.4 percent bump to $49.35 in Thursday's premarket following the completion of the sale of COP's 50 percent stake in the FCCL Oil Sands Partnership to Canadian oil company Cenovus Energy Inc (USA) CVE for $17.7 billion. The sale also earned COP an upgrade from analysts with UBS from Neutral to Buy.

The stock ended the day at $50, but opened slightly lower at $49.66 and continued to trend down. By noon Friday, the stock was at $49.31.

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Currently, the Vetr crowd's average target price for ConocoPhillips is up at $54.93, which is below the average analyst target price of $57.19. Less than 2 percent of Vetr users are holding COP in their watch lists.