$52.11
0.16 (+0.31%)
ConocoPhillips (COP)
CAPS Rating:
An international, integrated energy company organized into six operating segments: Exploration and Production, Midstream, Refining and Marketing, LUKOIL Investment, Chemicals and Emerging Businesses.
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4 times earnings?! This thing's priced for $10 oil, which just isn't going to happen. OPEC is going to cut production significantly, soon, and while global economic numbers are bad, they aren't quite bad enough to justify any further decline in the price of oil. Supply problems aren't going anywhere. We're far more likely to see oil in the $60-$80 range next year, maybe higher.COP also has some significant gas exposure, and gas inventories are down. The new administration might not like any of the fossil fuels, but they'll have to pick at least one because "renewable energy" is a looong way off from being economically viable. Gas is the cleanest of the three, and will be the first to benefit once the Obama administration starts to think clearly about energy.Overall, a good, well-diversified, dirt-cheap energy company. I'm a buyer.