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ConocoPhillips (COP) -1.2% premarket after shares are downgraded to Sell from Neutral at Goldman...

ConocoPhillips (COP) -1.2% premarket after shares are downgraded to Sell from Neutral at Goldman Sachs. COP "continue[s] to trade more like a defensive super major rather than a somewhat higher-beta domestic oil/E&P post the spin-off of its downstream assets," the firm says, as it sees greater upside elsewhere in the integrated/domestic oil and refiner sector.
Comments (4)
  • steven russo
    , contributor
    Comments (173) | Send Message
     
    at $50/ share COP yields 5.2% and dividends are going to be raised. The bottom for this stock will be $50/ share.
    20 Jun 2012, 09:22 AM Reply Like
  • UnCoverUp
    , contributor
    Comments (39) | Send Message
     
    Unfortunately COP management is delivering on its promised increase in yield and dividend per share as a percentage of price per share by devaluing COP share price. The high yield and dividend percentages promised by COP management after the spinoff depended on massive borrowing to finance the spinoff and that debt obligation has destroyed shareholder value not "unlocked" shareholder value as touted by COP's clueless directors.

     

    Pre-spinoff share price: (COP + PSX) > $75.00
    Post-spinoff share price: (COP + PSX) < ( $55 + .5 x $34) = $72.
    20 Jun 2012, 10:36 AM Reply Like
  • jw4golf
    , contributor
    Comments (340) | Send Message
     
    sorry, I can't believe GS
    20 Jun 2012, 10:45 AM Reply Like
  • words
    , contributor
    Comments (76) | Send Message
     
    You are absolutely correct, jw! Would not be surprised if one of their "firewalled" divisions in the next cubicle went long at the close.
    20 Jun 2012, 05:00 PM Reply Like
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