I've covered Conocophillips' investment merits and risks previously. As the share price grazes 52 week lows and rock bottom valuation metrics (yes, I know that the "E" part of the P/E ratio remains a question mark), I plan to once again join Mr. Buffett as a fractional owner of COP.
I've put in a bid at $43/share for a small stake. If it keeps dropping, I'll add to my position in increments and hold for 3-5 years or until a target price of $100/share is reached.
I don't have time to explain how I came up with those rather arbitrary numbers--hopefully, I'll explain later.
l
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment