Greatest destruction of shareholder value under any CEO and ELT in the history of ConocoPhillips ??
Thanks Ryan and your second tier ELT. You were alway out of your depth.
The ConocoPhillips board needs to wake up and swing the axe to this listless and lost company.
Can't believe I'm saying this but .............Bring back Jim Mulva !!
So whats the point, neutrality that is if you kept your shares.
No you needed this and that, dont whine.
-rjy
COP spun-off PSX to unlock value for shareholders. COP shareholders received 1 share of PSX for every 2 shares of pre-split COP.
On the first day of trading as separate entities (May 1, 2012):
COP was valued @ $56.10/share
PSX was valued @ $33.34/share
Combined value of $145.54 (2 shares of COP @ $56.10/s plus 1 share of PSX @ $33.34/s)
At close of today (June 12, 2017):
COP share price has DECREASED to $45.72/share
PSX share price has INCREASED to $80.21/share
Combined value has INCREASED to $171.65 (2 shares of COP @ $45.72/s plus 1 share of PSX @ $80.21/s), an INCREASE of 17.9 pct.
In addition, PSX annual dividend has INCREASED from $0.80/s to the current $2.80/s
whereas, COP annual dividend has DECREASED from $2.64/s to the current $1.06/s
The spin-off returned value to the pre-split shareholder, assuming the pre-split shareholder retained ownership in the PSX shares.
It is necessary to remember that COP is not in business to provide you job security. COP is in business to make money. It seems the current ELT is having difficulty in enhancing shareholder value.
New layoff coming in at Conocophillips in Houston in EC3, EC4 around July-August 2017 not confirmed yet, but employees were told a big cost cutting is again necessary & we all know what that means (layoffs).
This is the fourth layoff, brace yourself
New layoff coming in at Conocophillips in Houston in EC3, EC4 around July-August 2017 not confirmed yet, but employees were told a big cost cutting is again necessary & we all know what that means (layoffs).
This is the fourth layoff, brace yourself
Mulva made about $400million off the P66 spin off.
So we all know that the number presented to investors are 'managed'. We all know that the best assets in the company are not cash flow positive at the oil prices benchmarked. We all know that at this rate of asset sales, ConocoPhillips will not exist in a few years. We all know that there are no companies out there that are interested in acquiring what it the current ConocoPhillips carcass. We all know that the ELT adds no value. We all know that this was once a great company. We all feel cheated.
Actually, the stupidest decision ever made was to split ConocoPhillips and Phillips 66. That was the decision of our former CEO. I'm sure he was compensated well for setting us on the deadly course we're on. He brought us into the into the icebergs and made sure we had a few gashes in the hull. The next at helm turned off the radio and headed further out to see, rather than pointing us toward land.