We recommended COP on 5/10/2012 at a price of $53.47. COP is back to the price at which we recommended it. With no capital loss on the buying price and a gain of dividends, we recommend investors realign their portfolios with less energy and more biotech. With oil prices recently hitting a six-month low, COP is expected to give a poor EPS in 2016.
Dividend.com also wants to admit that we were a bit late in removing the energy names from the BDS list. We did not forecast the sharp and rapid decline in oil, however, it’s better late than never. Typically we do not make reactionary decisions – such as a volatile movement in oil – but we do believe that the lower oil prices will persist for some time and that it will take firms like COP a relatively long time to recover – if they can.
Source: Dividend.com
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