Looking Ahead at Oil: ConocoPhillips (COP)
With oil hovering around the $90 a barrel mark, and share prices of big oil having earlier reached their highs this year, there may be more steam left in these stocks after all. ConocoPhillips (NYSE: COP), an integrated oil company based in Houston, Texas, with a market cap of $118.6 billion, last week traded as low as $69 a share, down from its previous year’s high of over $90 a share. Wednesday, January 23, it reported quarterly earnings of $2.71 a share with $4.4 billion in net income, an increase of 37%. For the full year in 2006, ConocoPhillips earned…