So what of Conoco and Phillips 66? Cramer said that while Conoco's dividend provides it some downside protection, the company is only growing at 3% to 5% a year, hardly enough to get excited about.
I wish I had his qoute from a few months ago , it was very upbeat , this clown has to be exposed , I feel like writing him and giving him a piece of my mind .
This morning with COP trading at 55 Cramer again recommended buying COP but only if you believe oil will go higher. He really went out on a limb with that prediction.
I'm currently long COP and PSX but short call options against them. I'm also short puts against them both which means I'm obligated to buy more of them if they should fall over 15%.
This is the same idiot that told people to buy CHK! Take Cramer with a grain of salt he is wrong more than he is right! Do your own D-D Cop is a winner in my opion and I am holding my shares. As far as PSX I am on the fence I am not crazy about refining business but their chemical business is very profitable and is 40% of their income from what I have read. I must admit if PSX popped I would probably sell and buy more COP. Disclosure long COP,MRO,KOG,CJES in the oil patch. Will buy Cop and MRO on dips.
This is what Mr Cramer most recently said about COP
"ConocoPhillips is the ultimate paid-to-wait name, Cramer said"
HOW does this compare to what he said on Friday May 11 ?
ConocoPhillips is the ultimate paid-to-wait name, Cramer said. The Houston-based oil company is embarking on a massive restructuring that will ultimately lighten its debt load, provide greater exposure to finding and producing oil instead of simply refining it, and also increase its dividend. To execute this plan, ConocoPhillips is selling billions of dollars worth of assets and buying back billions of dollars worth of stock. It also plans to split the company into two parts, which Cramer thinks will unlock value for shareholders. The final split between ConocoPhillips and Phillips 66 was approved by the board and formally takes place May 1.