Time to cut my losses today. I am sorry I did not dump it the day they announced the dividend cut, which a month before was never going to happen. Yes i got my #$%$ handed to me, but this pig will be in the low $20's with an upside in a long time of about $37 (not this year).
Lying management, sinking crude prices.
Sentiment: Strong Sell
You know something is wrong when a man who recently predicted a bottom in oil turns around 4 days later and sells every single share of oil stock he owns. Finally, T. Boon knows something he isn't clamoring to tell like uusual. Things are really going to get bad in the oil patch. Glad I sold in the 40's but two of my mutual funds are taking a beating for hanging onto oil.
are you still riding your JCP stock down ??!?!? ..or did you even really ever NOT own any ? LOL !!!
u are a big pumper of that failed JCP stock.
pls update us.
updownbuysell: Are you really that stupid or are you just acting dumb?
The Board of Directors (BOD) in a publicly held company is supposed to be independent, representing the shareholders I over seeing the day to day operations of the mgmt team. Instead, the shareholders in COP get shafted while the BOD's allow the mgmt team to keep their compensation package even though they cut the dividend by 2/3rds. The BOD 's should be fired and sued for breaching their Fiduciary duties to the shareholders. The mgmt team is a disgrace and should also be fired forthwith for forcing only the shareholders to take the financial hit. Shareholders are supposed to own the company according to Corporate law. We take all the risk while the mgmt team and BOD gets fat and happy while we suffer.
What a joke. Why even raise the dividend by 1 penny last summer if any possibility of a dividend cut might be possible. Shows absolute no planning and regards for retirees and investors. Just wanted to suck investors in. Reminds me of AIG back then when they raised the dividend when they knew they were in deep trouble already. CEO should resign. Shame on them.