COP traded as an "independent" E&P company on May 1, 2012 w/ essentially the same ELT & BOD in-place. The following is a summary of stock price comparison for the premier shale independents (Pioneer, EOG & Concho) on May 1, 2012 (05.01.12) & July 20, 2017 (07.20.17). Also included are the premier US integrated major E&P companies (Chevron & ExxonMobil). COP has noticeably under-performed in the same oil price environment suggesting the problem is w/ management. During periods of high oil pricing, management is more than willing to take credit for stock performance. During low price environment, dismal stock performance is blamed on oil pricing. Can't have it both ways.
Pioneer(PXD): $126.13/s (05.01.12) INCREASED to $163.28/s (07.20.17)
EOG: $55.62/s (05.01.12) INCREASED to $93.66/s (07.20.17)
Concho(CXO): $107.10/s (05.01.12) INCREASED to $126.47/s (07.20.17)
COP: $56.51/s (05.01.12) DECREASED to $43.21/s (07.20.17)
Chevron(CVX): $108.27/s (05.01.12) Decreased to $104.63/s (07.20.17)
ExxonMobil(XOM): $87.04/s (05.01.12 Decreased to $80.86/s (07.20.17)
Dividend:
Chevron(CVX): $3.24/s (05.01.12) INCREASED to $4.32/s (07.20.17)
ExxonMobil(XOM): $2.24/s (05.01.12) INCREASED to $3.08 (07.20.17)
ConocoPhillips(COP): $2.64/s (05.01.12) DECREASED to $1.06/s (07.20.17)