• Clayton Rulli
    why COP down so much?
    5/1/12
    Reply (19)
    • losbronces: Its now COP & PSX. E&P and refining/retail businesses are now separated.
      5/1/12
    • mun2000: wow i smell something when i sold at 68 when split will happen not great for stock. Why so much drop ???
      5/1/12
    • WheresTheDough: I'm thinking those that bought after 4/16 got clobbered today. Before 4/16 you get 1 share of PSX free for every 2 shares of COP
      5/1/12
    • WheresTheDough: Don't feel there was enough disclosure on the 4/16 date or else COP would have fallen to 55. as of that date... something smells rotten
      5/1/12
    • mun2000: something fishy indeed .Indeed people that bought in the past 2 weeks got hammered and also the trend on oil companies is lower .Lucky out
      5/1/12
    • losbronces: Lawsuits will result & attornies will make some money...shareholders not so much.
      5/1/12
    • Apfels: So what's the calculation of cost basis for COP bought pre-April 16? And for that matter, the cost basis of he PSX you now own?
      5/1/12
    • 8747S1115R: If you bought COP after april 16th you are an idiot and clearly don't do enough research before buying.
      5/1/12
    • Clayton Rulli: They should restrict buying from 4-16 til split. I am sure they don't allow you to short sell on 4/17 and buy back today!!!!!!!!!
      5/1/12
    • WheresTheDough: I think when an owner of 4/16 sells between 4/16 and 4/30 he also sells rights to PSX and buyer buys rights to PSX..
      5/1/12
    • WheresTheDough: But I can't visualize how that is actually realized. Gives me a migraine..
      5/1/12
    • WheresTheDough: Personally what I find odd is how little news about this split is available today. Strangely silent..
      5/1/12
    • Apfels: Evidently all of conocophilips web sites are being renamed as none of their URLs that existed before today seem to work.
      5/1/12
    • WheresTheDough: They've all packed their bags and left town j/k
      5/1/12
    • losbronces: The only one that works is for PSX: http://bit.ly/JncSEl
      5/1/12
    • maddynuke: COP spinoff for upstream exploration and drilling. Phillips 66 PSX has refining, sailes, downstream. COP website has the basis details.
      5/1/12
    • WheresTheDough: Just talked to my broker. He said that all COP bought before 5/1 will result in PSX shares distributed on 5/4.
      5/1/12
    • WheresTheDough: The 4/16 is meaningless in that if those shares are sold and bought before 5/1 by someone else.. the someone else gets the PSX shares.
      5/1/12
    • MG1948: We will get one share of PSX for two of COP. 1 cop stock at 56 today plus half of SPX at (half of 34) = 73 dollars. About value w/o spinoff
      5/1/12