I see what you guys are saying.
I actually do have some ideas for where to route the funds from the money (other dividend stocks, not a fancy car or iPhone or anything
), and like I said, the tax lost harvesting will also make up for my selling half of my CAT stake a few weeks ago.
Looking at some of these numbers, though, makes me wonder if money is better allocate elsewhere. Right now, I'm seeing a NEGATIVE EPS. I don't recall any major acquisitions or anything that would have created more spending than revenues (correct me if I'm wrong); I'm fairly certain they actually sold some assets this year. How am I seeing negative earnings? And their forward P/E is very high too. That indicates overvaluation to me. I know that oil prices won't stay where they are forever, but who knows where things will be for the next foreseeable future (roughly 10 years)? I don't want to start making any bets on commodity prices other than the broad fact that we will still be using that commodity 30 years from now. I don't think oil is going to crash again, but do we really think it will go up to the record highs of 2013 as the technology for drilling improves? I don't think so, and remember that this is a pure play upstream company here.
I should also point out that the companies I'm thinking of to buy have higher yields and lower forward P/Es.
What is it I'm missing here with these numbers, guys? What am I REALLY seeing when I look at COP's negative EPS and near-30 forward P/E?
I actually do have some ideas for where to route the funds from the money (other dividend stocks, not a fancy car or iPhone or anything
), and like I said, the tax lost harvesting will also make up for my selling half of my CAT stake a few weeks ago.Looking at some of these numbers, though, makes me wonder if money is better allocate elsewhere. Right now, I'm seeing a NEGATIVE EPS. I don't recall any major acquisitions or anything that would have created more spending than revenues (correct me if I'm wrong); I'm fairly certain they actually sold some assets this year. How am I seeing negative earnings? And their forward P/E is very high too. That indicates overvaluation to me. I know that oil prices won't stay where they are forever, but who knows where things will be for the next foreseeable future (roughly 10 years)? I don't want to start making any bets on commodity prices other than the broad fact that we will still be using that commodity 30 years from now. I don't think oil is going to crash again, but do we really think it will go up to the record highs of 2013 as the technology for drilling improves? I don't think so, and remember that this is a pure play upstream company here.
I should also point out that the companies I'm thinking of to buy have higher yields and lower forward P/Es.
What is it I'm missing here with these numbers, guys? What am I REALLY seeing when I look at COP's negative EPS and near-30 forward P/E?