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what to do with cop?
#1
I'm wondering what to do with my shares of COP?

I bought the company back when things were good, getting in at $68/share a few years ago. Oil was at record highs. Now, the stock is down to $50/share and the dividend was cut last year. My current paper losses are $500 (not counting the dividend coming in).

Now I was considering selling off my stake in the company, taking the loss for tax purposes (it would offset the gains I had on just selling half my stake in CAT a week ago), and routing that to other dividend payers. I don't remember what the yield was at the time of purchase, but with the dividend cut, I'm pretty sure that the current YOC is pretty low. The thing is that I hate to sell off a company if the fundamentals are fairly decent. I'm pretty sure the company isn't about to go under (though, then again, they have a negative EPS. How are they paying that dividend?). Plus, they are committed to paying that dividend and, if I'm not mistaken, they've grown their dividend at least once since the cut. And they have a nice history of paying and raising their dividend.

We don't know what oil prices are going to do, but they've rebounded from the record lows of two years ago. If there was reason to believe oil was going to shoot up, I'd consider investing more in COP (being a pure play upstream, the upsides for that are huge). But I haven't a clue what commodity prices are going to do and neither does anybody.

So I was wondering what your thoughts were on what I should do? Sell off my shares for tax loss purposes and reinvest the money into another dividend stock (my current plan)? Just hold on and hopefully enjoy a resurgence of the dividend? Just hoping someone could point out something I'm missing or help me put this stock into perspective.
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Messages In This Thread
what to do with cop? - by Joey Batz - 10-01-2017, 10:49 PM
RE: what to do with cop? - by ChadR - 10-02-2017, 08:50 AM
RE: what to do with cop? - by divmenow - 10-02-2017, 10:32 AM
RE: what to do with cop? - by chascornell - 10-04-2017, 04:06 PM
RE: what to do with cop? - by Joey Batz - 10-04-2017, 04:43 PM
RE: what to do with cop? - by EricL - 10-04-2017, 08:49 PM



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