I did the same. I bought 200 shares to get the 100 PSX. Then when COP got around $71 and falling in January(I think it was Jan) I dollar costs down to $64 for a 1,000 shares total. ... COP is a favorite of mine and feel in 5 years it'll trade over $125 all the while collecting some $13+ dollars in dividends (that's if they don't touch it) ... good deal!
I expect there will be a dividend increase next month….. as there was last year in July.
According to the International Energy Agency, the global community must invest $48 trillion by 2035 to meet the world's energy needs. Of that, $23 trillion will need to be spent on fossil fuel extraction, transportation, and oil refining. This investment will help to offset declining oil and gas wells, as well as help to meet the growing demand for energy in emerging nations. Needless to say, this is a supertrend that deserves a place in nearly every portfolio. While a number of companies will benefit from this megatrend, I think ConocoPhillips (NYSE: COP ) , Anadarko Petroleum (NYSE: APC ) and Chevron (NYSE: CVX ) are among the best positioned to profit.
These three companies have energy assets spread around the world, and all three have a plan in place to grow production. ConocoPhillips expects 3%-5% compound annual production growth through 2017, with major growth opportunities beyond that. Anadarko Petroleum expects even higher 5%-7% compound annual production growth through 2020. Finally, Chevron anticipates 20% total production growth from 2013 to 2017, with post-2017 growth projects beginning to emerge.
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•By holding the dividend at $2.64 after spinning off Phillips 66, Conoco raised its payout ratio from 30% of net profits to 44% of net profits.
•Most likely, Conoco will try and lower this payout ratio to the 25-30% range over the long term to allow for the capital projects necessary to fund growth.
•The implication is that, for the next several years, earnings per share may be increasing faster than dividends as the company recalibrates to a more appropriate long-term payout ratio.
After spinning off Phillips 66 (PSX) in 2012, Conoco (COP) management made an important decision: they chose to keep their dividend at $2.64 per share. This was significant because the removal of Phillips 66 from the Conoco corporate umbrella reduced Conoco's earnings per share from $8.76 in 2011 to $5.91 at the time of the spinoff. In other words, by keeping the payout steady without Phillips 66 on the balance sheet, Conoco effectively raised its dividend payout ratio from 30% in 2011 to 44% after the spinoff.
Now that Conoco is an exploration and production company, there can be an inclination to get the payout ratio more in line with the 25-30% range rather than the nearly 40-50% range that the company has been in since divesting Phillips 66.
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