Yup. I suggested to more than one or two people that they ought to wait a month or so until after the institutions were done selling so market sell/buy orders could normalize. One guy is actually a financial advisor and he advised his clients to sell.
Garland has been pretty blunt on the quarterly calls about not spending capital for refining unless the ROI is high. He has also stated that the % of the revenue that is from refining is going to drop significantly during the next 5 years or so.
You DONE GOOD! Like you intimated, there was an investment community element supporting the dumping of the "refining" side of the business as soon as the split was consummated. I know folks who did exactly that. In fact, I think shares were traded at $29.xx briefly. I merely held the shares allotted to my account from the split and did not buy anymore. But still pretty dang HAPPY!
Dividends have been increased 10% in each of the last 3 years. That is a NICE divi growth record!
If you're really REALLY curious the first thing you should always check on a down day is the price of Brent vs WTI.
The second is go crack a cold one open and relax because you got in (or should have) in May 2012 at about $30 per share and your playing with the houses money! Collect the divi next week and enjoy!
My memory is not great but…I believe the COP/Mulva published break even NG price on which the deal was based was around $5.50/MCF. The deal was consummated in Feb. 2006 prior to the fracking boom and over supply which drove the price of NG into the dirt. In 2008 COP wrote down the entire $17 billion "good will" portion of the purchase. Basically HALF of the purchase price!
Frankly I can't swallow the premise that the deal was negotiated in 2005 based on acquiring acreage that would become much more valuable for it's liquids component largely produced by horizontal drilling/fracking.
Look above this message on subject banner and you will see "historical prices". Click on that link and you will see a radio button for "dividends only". Click that radio button and then "get prices". Review the past dates and you will get a good idea when they will announce.
More detail….The "record date" according to the COP web site is Tuesday 2/18/2014. The ex dividend date is the 2nd business day prior to the record date. One would think that would be 2/14/2014. However, Monday 2/17/2014 happens to be Presidents Day (Washington's birthday) and is NOT counted as a business day! So, as brad states above, the ex date is going to be Thursday Feb. 13……i think…...
Based on NEE 5 year avg. dividend of 3.5 % (per Yahoo finance)….. I'll predict that we may not get to that level but perhaps a $0.09 Q increase of 14% to $0.75/Q. Nominally 3.3%.
The CVX CEO was asked about the possibility of selling their share of CPChem to P66 on their conf call this morning. He stated they were not interested in selling their share and emphasized the expected profitable return from their $3Billion share of the new olefins plant.
No lying at all, and I NEVER SHORT STOCK….fools errand. I encourage you all to LISTEN to the recording of the call! GO LOOK AT THE CVX EXECUTIVE BIO's!!!
I just listened to the CVX conference call. I do not own any shares but noticed that they had such poor results the share price was off 4%. I believe that may be spilling into the whole neighborhood including COP. They missed on all expected figures, especially the production related figures.
The call had a totally different feel to it than the COP call. First, the 2 CVX execs on the call were the CEO, an Ag Econ major who came up through finance, and the CFO who is a Poly Sci major that apparently also came up through finance. NO TECH COMPETENCE on the call! Also no Pet Eng., Geophysical Eng. on the exec team anywhere. A few Civils, Mechanicals, Chemicals (good for downstream), and EE.
The 2 CVX execs were totally on the defensive the entire Q/A portion of call and could only defend based on qualitative sales pitch verbiage and a few poorly placed quips ("Oh, you want us to spend more? Ha Ha"). The CEO was OBVIOUSLY very nervous. The analysts were decidedly NOT impressed and were NOT buying the pitch. In fact one analyst who asked a pointed question and got a BS answer grunted a sarcastic sounding "uh huh" after the reply.
If I had any shares I'd be selling!
He's probably stuck in traffic in Atlanta!
Perhaps he could show a sense of social conscience by using some of the billion$ he has earned with his man-made global warming campaign by paying all of our January heating bills!
If that is your plan then I'd advise you sell the May 72.50 covered calls and relax.
However, I have held P/COP for 40 years and made pile of $. If you are on the younger side of life and don't need the current income, set up a DRIP and plan for a comfy retirement
Yeah…I was a bit put off by not being able to DRIP PSX divi's into PSX, but after all, it is the COP 401K! I am happy to DRIP into COP shares and collect their quarterly divi as well as the modest increase in share price.
Unlike you I don't have a crystal ball telling me the future financials of companies so I have to depend on other factors. Since DIVIDENDS are directly related to a companies cash flow and financial well being of a company, and management is loathe to decrease a dividend once it has been raised…. I believe that a 35% dividend increase indicates that MMM mgmt may know/understand something positive that YOU DON'T.