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ConocoPhillips Message Board

  • tanbcu tanbcu Mar 30, 2013 9:24 AM Flag


    ant thoughts on the great iron ore trust that cop gets 04/04/2015(for free)

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    • Based on the dividend and number of shares outstanding, it will not add more than 2 cents to COP earnings. However, it is an interesting anomaly. How did COP get the property at the end of the trust. My guess is they bought oil and gas property that was linked to the Great Northern RR and that property owned the final rights.

      The real value to COP is that the property carried on the books after depreciation is worth very little; however it's market value is probably in the $1 billion range. COP market cap is $73.4 billion so the property could add 1.4% of additional value. Unfortunately that rarely happens because COP is an oil and gas company and the property has nothing to do with the core business.

      I would not get excited about this, but time will tell. I am long and like COP's prospects.

      Sentiment: Buy

    • Not many people know about that.

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