COP is up today over 1%, I'm selling it. Since purchase a few years ago, I'm up around 12.5% on the investment, but it's time to move the money elsewhere. It looks as though they will be freezing the dividend for several years, and growth prospects are pretty poor.
I'm thinking of redeploying the proceeds to try to get the 4.5% dividend income elsewhere. Candidates today are OHI, DLR, CVX, and XOM. Of these, only XOM would be a new name in the portfolio.
Good article on SA today from Tim McAleenan Jr. was the catalyst for my decision.
http://seekingalpha.com/article/3200866-conoco-get-ready-for-an-extended-dividend-freeze
In energy, I still own HAL, KMI, BBL, CVX.
Maybe combining more REIT dividends with the lower dividend from XOM (3.4%) will be a good trade....still considering options.
Best,
Chump
No comments:
Post a Comment