With 510 million shares outstanding and 759 million in stated profits on the Yahoo facts file, ($1.40 per share profit) I think there is to much stock to be absorbed by the market. Only 20% is held by institutions and 10% by management. With that many shares in the free market, it is hard to grow the profit per share.
Even with the new production coming on in the next quarter, I think the dividend should be left alone and the additional income of $20 profit on each of 50,000 barrel per day be used to retire up to half of the 510 milliion shares of outstanding stock, if the stock price stays below $6 per share.
I realize that would take board action, but other companies are now seeing that avenue as best for the stock holders.