The future is sketchy

COP traded as an "independent" on May 1, 2012 w/ essentially the same ELT and BoD in-place. Share price was $58/s w/ an annual dividend of $2.64/s. Today, July 20, 2017, share price has DECREASED to $44/s and the annual dividend SLASHED to $1.06/s. The workforce has DECREASED from 16,300 to a current 13,300. Since that time, there have been layoffs in: April 2014, October 2014, October 2015 and September 2016. If history is any guide, there will be layoffs in 2017 and beyond.

Potential investors and current shareholders, as well as current employees and prospective employees, need to hear where COP is heading. Only news items are about asset sales, layoffs and what we are going to do. Again, if post-May 1, 2012 history is any guide, the future of COP, w/ current ELT and BoD in-place, is sketchy for the current shareholders and employees.

Originally posted by @OlimBQq-1ehk.

Comment! It's anonymous!

2 replies (most recent on top)

The future is sketchy? Haha, I am glad to see we have a rocket scientist posting here.

I am sure the price of oil on May 1st, 2012 compared with the outlook today has nothing to do with our company outlook.

It's all the managements fault.

We need answers.

How did they let oil fall so far?

Fire them all.

As employee, it may be harder to dissociate from COP (voluntarily). As shareholder, it is just a click away. Objectively thinking, will COP still be around in 5 years???

Instead of thinking: I am going sell my shares when they rise to $X, you might consider selling covered calls. I sold covered CALLs on my COP stock on 6/9/2017 (when COP share price was 44.85) expiring 11/17/2017 with strike price of $49.00 for $1.22. If COP price rises to $49, I’ll (have to) sell them at $49. If not, I’ll sell another covered CALL (until I sell the stock) then invest the money in something else. In the meantime, keep collecting the dividends that they borrowed money or sold assets to pay. Even if you want to stick with E & P or O and G investments there are better ones out there, such as Diamondback, XOM, or even PSX. I’d recommend this for those who believe longer term there are better alternatives for your investment. Of course, AMZN, NVDA, GOOG and FA and others will do better yet.

Thread regarding ConocoPhillips layoffs

The future is sketchy

2 replies (most recent on top)

Post a reply