A Rich Oil Play, if You're Patient

The market continues to grind higher, and the S&P 500 is slowing drawing closer to its previous highs like a moth to a flame. I've been growing more cautious as the market has gotten deeper into this rally as it seems as though the indices are getting more overdue for at least a minor pullback.

If we do see a decline, one stock I'll continue to buy will be ConocoPhillips (COP). I've been invested since early 2012, as it's in the early innings of a major transformation that I believe will reward shareholders significantly over the next five years. The company -- which has been an integrated oil major with assets throughout the globe -- is undergoing a multiyear repositioning to one of the world's largest independent exploration-and-production concerns, with an increasing amount of production coming from North America. It's also shifting its capital budget to increasing development in U.S. shale plays, away from its prior heavy investment focus in liquefied natural gas and oil sands....348 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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