The stock price is $54 and the dividend yield is 5.5%. The 52 week low is $53 and the 52 week high is $87. Be so kind and explain to be the infatuation with the investor community by COP management. The dividend will be paid via asset sales and/or debt due to continued negative cash flow.
6 replies (most recent on top)
$49
ugh... $52 per share
Companies don't typically repurchase shares with the intent of reselling at a later date so there is a good chance many of those shares were already cancelled. The buyback takes shares out of the market and raises the EPS. Shareholders love it which is why they do it. Just like pretty much everything else.
Sounds like insider trading to me.
It's probably because COP owns a tremendous amount of its own stock, so they're trying to drive the price higher and sell. It bought back $23.2 billion in shares from 2008-2011. Interesting to note that the last buy-back of 10 billion happened about 2 months before the company split was announced
Worst is yet to come wait until oil wti goes to 40$ barrel...