ConocoPhillips (COP) Stock Gains UBS Confidence as Willow Project Advances

ConocoPhillips (NYSE:COP) ranks among the best stocks to buy now for long-term growth. UBS boosted its price target for ConocoPhillips (NYSE:COP) to $130 from $120 on February 8, remaining with a Buy rating on the company’s shares. The oil giant endured troubles during its most recent quarter, with EPS falling short of expectations due to lower output, while capital expenditures exceeded projections.

Barring these difficulties, ConocoPhillips (NYSE:COP) expects to be halfway through construction of its Willow project by the end of this construction season, with its multi-year exploratory effort in the area potentially delivering more than twice the amount of resource development.

With its current claims worth over $10 billion and the potential to produce within the region, provided the required protections are put in place, ConocoPhillips (NYSE:COP) seems to be the best-positioned exploration and production company to extract value from Venezuela, according to UBS.

ConocoPhillips (NYSE:COP) is a global energy company headquartered in Texas that discovers, produces, transports, and trades crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids.

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Disclosure: None. This article is originally published at Insider Monkey.