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Strategies & Market Trends : Value Investing
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To: Mattyice who wrote (46840)3/2/2012 12:50:31 AM
From: Paul Senior  Read Replies (1) of 78476
 
"Unless my calcs are wrong, COP is significantly undervalued."

I don't know about your calcs, but COP has on average traded over many years at 1.5x stated book value. And that's where the stock is now. And since I use this metric, to me, the stock looks fairly valued. I don't say that the stock won't rise: I'd expect it to rise if/as stated bv increases. P/e which I also use in evaluating large integrateds is almost 9. In past years COP seems to have traded on average between 6-8 mostly. So here too, I don't see undervaluedness now. McDep had COP as a buy last month (when the stock was lower, at $71 vs $78 now). It still may be a buy. Not for me though. If doing comparables, CVX still seems better to me than COP. I'm partial to CVX though, and have followed it for a number of years.

Just my commentary that I looked at COP and will pass. I could be very wrong. As I have been many, many times.
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