HelpRegister |
Phillips 66 (PSX) Spinoff from Conoco (COP) A lot of you own Conoco Phillips stock (COP). As of today, you are also owners of shares of the downstream part of their business that they have spunoff under the name Phillips 66 (PSX) What are your thoughts on keeping PSX, and/or even the remaining COP? Almost a year ago Marathon Oil (MRO) did a similar spinoff of its refining operations and investors received shares of Marathon Petroleum (MPC). If your club owned Marathon Oil and received the spunoff shares, what has been your experience? Any feedback will be appreciated. I have to report on COP at an investment club meeting this month! Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe There was a very good article in Forbes on what to do with PSX that said it will be a fine hold, but don’t look for the growth. http://www.forbes.com/sites/christopherhelman/2012/04/30/as-conocophillips-spins-off-refining-assets-should-you-own-the-new-phillips-66/ SPX says their “difference” is the chemical business. Proof of that was in the sale of a refinery on the first day of the new company. So it seems the asset sales at PSX will continue, as they had at COP, until a chemical company remains of PSX. I’m going to hold until there is a clear direction. Mark Eckman From: club_cafe@bivio.com [mailto:club_cafe@bivio.com] On Behalf Of Laurie Frederiksen A lot of you own Conoco Phillips stock (COP). As of today, you are also owners of shares of the downstream part of their business that they have spunoff under the name Phillips 66 (PSX) |
|