Monday, March 28, 2016
Oil Ups and Downs
I'm long CVX as well. CVX has not raised dividends, but not lowered them either. The pressure on oil companies may lead to some consolidation down the road and the larger companies will survive and pick up the smaller ones on the cheap.
In summary, I'm looking for a good point to exit COP. For example after oil swings up into the mid 40s, COP and all other oil stocks usually rise with it, and I'll exit. I'll hold on to CVX as long as they maintain their dividend.
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I agree with holding COP for now. The dividend cut happened, but COP is still paying a decent dividend. Since the stock is on the low side, it makes sense to collect cash dividends while waiting for some recovery.ReplyDelete