ConocoPhillips (NYSE: COP) is nearly a $150 billon company headquartered in Houston, Texas. ConocoPhillips is an integrated oil and energy company with 6 distinct segments: E&P (oil, natural gas, NGL), Refining and Marketing, Chemicals, Midstream, Emerging Businesses, Lukoil Investment. During the oil run up during the second quarter of 2008, ConocoPhillips stock reached new highs, breaking into the $90 range. Competitors to ConocoPhillips stock include: Exxon (NYSE: XOM), Chevron (NYSE: CVX), Marathon Oil Corporation (NYSE: MRO), Hess Corp (NYSE: HES), and Sunoco (NYSE: SUN).

Long term, ConocoPhillips stock gives Oil and Energy integrated investors a strong growth rate being a veteran status among its peers. Analysts estimate ConocoPhillips stock short term growth rate at 55% and long term growth rate at 8.2%. The 2006 and 2007 trailing price to earnings ranged from around 6 to 10 times earnings, while its forward price-to-earnings ranged from 6-9 times forward earnings, including hitting a low during the big oil bull market during the second quarter of 2008. Of course, ConocoPhillips stock faces its largest risk in commodity price fluctuation, primarily of oil and natural gas. Oil crack spreads also are a factor in its refining division. In the past ConocoPhillips has done a good job with its reserve replacement risk, but continuing this streak is essential to the stock outperforming its peers.

With ConocoPhillips at a beta right at 1.00 and a strong record of growth behind and ahead of the stock, the equity can be used as a swing trade or even as a longer term investment for your IRA. It is also nice to see an Energy / Oil stock with a S&P credit rating of A, which is where COP stock as of May 2008.