Personally, I suspect COP has the greatest chance of cutting the div of major oil; M* has removed its moat rating, and it's no longer an integrated player, like CVX.
I own COP, BP, RDS, XOM and CVX--and save for 1/2 my position in CVX and all my XOE, I bought these at much higher valuations. I'm barely making 4% YOC for my COP. If it ever runs over $39 again, I think I'll sell, and use the proceeds to fill out my position in MMP or XOM. Certainly less upside potential in the share price of these choices, but if these prices stay depressed for 18 or more months, I think MMP or XOM will serve me better in terms of divy yield (DRIPPED at this point). Of course, if COP doesn't cut it's divy, I'll just be losing capitol...
Ronn
I own COP, BP, RDS, XOM and CVX--and save for 1/2 my position in CVX and all my XOE, I bought these at much higher valuations. I'm barely making 4% YOC for my COP. If it ever runs over $39 again, I think I'll sell, and use the proceeds to fill out my position in MMP or XOM. Certainly less upside potential in the share price of these choices, but if these prices stay depressed for 18 or more months, I think MMP or XOM will serve me better in terms of divy yield (DRIPPED at this point). Of course, if COP doesn't cut it's divy, I'll just be losing capitol...
Ronn