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ConocoPhillips Message Board

invest_2_bsecure 15 posts  |  Last Activity: May 29, 2012 9:42 AM Member since: May 13, 2012
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  • Reply to

    citi raises cop from neutral to buy 67 tgt

    by raggwead May 29, 2012 8:37 AM
    invest_2_bsecure invest_2_bsecure May 29, 2012 9:42 AM Flag

    I believe/hope that the long term outlook for COP is rosy. But I also believe that current COP shareholders need to exercise patience and disregard the daily/weekly/ quarterly/annual fluctuations in the market and the pps of COP's shares.

    When the market/pps is going lower, fall back on the fabulous dividends. Reinvest the divvies and the lows. COP will be an excellent long term investment, and I'm thinking in the range of a 10 year long range span.

  • Reply to

    COP's Cost Basis IRS Form 8937

    by invest_2_bsecure May 26, 2012 9:38 AM
    invest_2_bsecure invest_2_bsecure May 27, 2012 10:32 PM Flag

    Teal, you are correct. Copy the form and save it for your tax records.

  • invest_2_bsecure by invest_2_bsecure May 26, 2012 9:38 AM Flag

    Here is the link to the IRS Form 8937 that COP filed with the IRS. This form denotes the cost basis of COP and PSX. I suggest that you make a copy of this form and save it for your income tax records. Form 8937:

    http://www.conocophillips.com/EN/investor/shareholder_services/Documents/Form%208937_Tax%20Basis_FINAL.pdf

  • Reply to

    HELP PLEASE

    by kenjoe34 May 21, 2012 6:46 PM
    invest_2_bsecure invest_2_bsecure May 24, 2012 2:03 PM Flag

    Here is an official link to the information that COP filed with the IRS. It includes the official IRS form that you will need to compute your tax basis. I suggest that you print a copy of this IRS form and keep it for your tax records. Here is the link:

    http://www.conocophillips.com/EN/investor/shareholder_services/Documents/Form%208937_Tax%20Basis_FINAL.pdf

  • Here is the link to COP/PSX's IRS Form 8937, "Report of Organizational Actions Affecting Basis of Securities". It is the final/definitive answer to the cost basis for COP/PSX. I would suggest you make a copy and keep with your tax records, for future tax purposes. Here is the link to Form 8937:

    http://www.conocophillips.com/EN/investor/shareholder_services/Documents/Form%208937_Tax%20Basis_FINAL.pdf

  • invest_2_bsecure by invest_2_bsecure May 24, 2012 7:37 AM Flag

    News Breaks
    May 24, 2012
    Maybe too rosy. I'd be happy just to see a pps of $100 again.

    07:01 EDT OXY: Occidental Petroleum recent weakness a buying opportunity, says Credit Suisse

    Credit Suisse said recent Occidental weakness provides a buying opportunity given management commentary regarding growth, outlook in the Permian and California, and slowing Upstream capital expenditures. Shares are Outperform rated with a $135 price target.

  • invest_2_bsecure by invest_2_bsecure May 16, 2012 1:08 PM Flag

    16 June 2012, Xcel Energy increases common stock dividend 3.8% to $0.27 from $0.26 per share (XEL) 27.36 +0.19

  • Reply to

    Cost base calculation for COP and PSX

    by glbinvestor May 2, 2012 9:02 PM
    invest_2_bsecure invest_2_bsecure May 16, 2012 10:55 AM Flag

    FYI: For those of you who received PSX shares in the spinoff and who have those shares in a Scottrade account, then Scottrade has automatically calculated the cost basis of the PSX shares. I suspect that other brokerages have done something similar. You don't have to calculate the cost basis of your COP/PSX shares, it's already been done for you. You can check your Scottrade account for the basis, whether or not you sold your PSX shares already.

    1. Login to Scottrade
    2. Select "My Account"
    3. Select "Gain/Loss & Tax Center" link in the left menu
    4. Scroll over "Gain/Loss Reports"
    a. If you have already sold your PSX select "Current Year
    Realized Gain/Loss"
    b. If you haven't sold your PSX select "Unrealized Gain Loss"

  • Reply to

    Cost Basis Calculation - I think this is correct

    by rantk81 May 2, 2012 1:46 PM
    invest_2_bsecure invest_2_bsecure May 16, 2012 10:53 AM Flag

    FYI: For those of you who received PSX shares in the spinoff and who have those shares in a Scottrade account, then Scottrade has automatically calculated the cost basis of the PSX shares. I suspect that other brokerages have done something similar. You don't have to calculate the cost basis of your COP/PSX shares, it's already been done for you. You can check your Scottrade account for the basis, whether or not you sold your PSX shares already.

    1. Login to Scottrade
    2. Select "My Account"
    3. Select "Gain/Loss & Tax Center" link in the left menu
    4. Scroll over "Gain/Loss Reports"
    a. If you have already sold your PSX select "Current Year
    Realized Gain/Loss"
    b. If you haven't sold your PSX select "Unrealized Gain Loss"

  • invest_2_bsecure invest_2_bsecure May 15, 2012 7:50 PM Flag

    Okay, I've done my homework. I have found and reviewed the ESV FAQ sheet that addresses the new conversion. The FAQ sheet says that it is definitely NOT a taxable event. Here is a link to the ESV FAQ sheet:

    http://www.enscoplc.com/Theme/Ensco/files/Documents/051512%20FAQs%20Final.pdf

  • Reply to

    Scottrade Auto Figured PSX Basis

    by invest_2_bsecure May 15, 2012 2:25 PM
    invest_2_bsecure invest_2_bsecure May 15, 2012 3:43 PM Flag

    Scottrade has also calculated your cost basis for your COP shares. See previous post.

  • invest_2_bsecure by invest_2_bsecure May 15, 2012 2:30 PM Flag

    Scottrade has automatically calculated the cost basis for both COP and PSX shares:

    For those of you who received PSX shares in the spinoff and who have those shares in a Scottrade account, then Scottrade has automatically calculated the cost basis of the PSX shares. You can check your Scottrade account for the basis, whether or not you sold your PSX shares already.

    1. Login to Scottrade
    2. Select "My Account"
    3. Select "Gain/Loss & Tax Center" link in the left menu
    4. Scroll over "Gain/Loss Reports"
    a. If you have already sold your PSX select "Current Year
    Realized Gain/Loss"
    b. If you haven't sold your PSX select "Unrealized Gain Loss"

  • invest_2_bsecure by invest_2_bsecure May 15, 2012 2:25 PM Flag

    FYI: For those of you who received PSX shares in the spinoff and who have those shares in a Scottrade account, then Scottrade has automatically calculated the cost basis of the PSX shares. You can check your Scottrade account for the basis, whether or not you sold your PSX shares already.

    1. Login to Scottrade
    2. Select "My Account"
    3. Select "Gain/Loss & Tax Center" link in the left menu
    4. Scroll over "Gain/Loss Reports"
    a. If you have already sold your PSX select "Current Year
    Realized Gain/Loss"
    b. If you haven't sold your PSX select "Unrealized Gain Loss"

  • In 2009, ESV moved it's Headquarters to London and coverted it's shares to ADS instruments. That proved to be a fully taxable event, it counted just as though the shares were sold. Now, ESV is converting it's ADS shares back to their original U.S. shares. Is this going to be a taxable event also? I had to pay a lot of taxes on the original conversion. And now it appears as though I might have to pay more, without ever selling any of my original shares. If it is a taxable event the ADS shares were issued at a $42 price and now the pps is at $47, so it is possible that we could be taxed again for a $5 share gain for 2012.

    I am a long term buy and hold investor and I don't appreciate having to pay taxes on shares I haven't sold. I think that ESV management is really screwing us around. Here is part of their press release concerning the conversion of the shares back to U.S. status shares:

    Ensco plc (NYSE: ESV - News) announced today that the Company has agreed to terminate its American Depositary Share (ADS) facility and convert its outstanding ADSs into Class A Ordinary Shares. Recent regulatory developments involving shares of companies domiciled in the U.K. have facilitated the change, and Ensco expects its Class A Ordinary Shares to begin trading on the NYSE on 22 May 2012 under the same symbol “ESV.”

    Each Ensco ADS currently represents one Class A Ordinary Share of the Company. The conversion will allow Ensco shareholders to directly own and trade Class A Ordinary Shares on the NYSE, which is a requirement to be eligible for the S&P 500 Index.

    Ensco previously was included in the S&P 500 Index until December 2009 when it changed its corporate domicile to the U.K. from Delaware. Regulations for U.K. companies at the time required Ensco’s Class A Ordinary Shares to be traded in ADS form and, since eligibility rules for the S&P 500 Index exclude companies listed in ADS form, Ensco was removed from the index. The Company’s decision to convert to a Class A Ordinary Share listing will restore Ensco’s eligibility for the S&P 500 Index, although there is no assurance that Ensco will be added to the index in the future.

  • The current market cap for COP, after the spinoff, is $65.67 billion. COP is buying back $12 billion worth of it's shares ($12b/$54 = 222 million shares). That's a huge buyback that's going to decrease the outstanding shares by almost 18% ($12b/$65.67b).

    A huge buyback!!!!!!!!!!!

COP
63.33-0.92(-1.43%)Mar 5 4:03 PMEST

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