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ConocoPhillips: Dividend Obsession Hurts The Company

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Summary

  • ConocoPhillips announces small hike in the dividend.
  • The E&P firm cancels a ultra-deepwater drillship contract with high termination fees.
  • The stock is hitting new oils due to the company protecting the dividend while oil prices head lower.
   While a lot of comments don't agree with my previous points on the dividends paid by ConocoPhillips (NYSE:COP), the latest news again backs up my claims. The exploration and production firm made another bizarre move based on protecting the dividend at the expense of prudent financial moves.

 Read the full article on Seeking Alpha.


 Disclosure: No positions mentioned. Please read the disclaimer page for more details.

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