Marcial: ConocoPhillips, a Cheap Big Oil Play

ConocoPhillips' strength in natural gas production and oil refining and recent oil deals in Russia and the Mideast make its beaten-down shares promising

The sharp drop in the price of crude oil—which traded at $55 per barrel in New York on Nov. 18, down from a record high of $147 in July&mdash has taken the pizzazz out of the shares of energy behemoths that not too long ago were Wall Street's top favorites. But for value investors, beaten-down oil stocks are an opportunity not to be missed.

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