Recent Purchase – COP

Early last month, I had posted about my purchase of COP. The oil price continues to slide down and this is putting pressure on oil and energy stocks. I had purchased 20 stocks last month in COP bringing my total to 30 stocks. The stock continued to remain the same range for most of the month and I decided to add more to my COP position.

I purchased 20 shares of COP at $68.00 on 12/5/2014. With commission, the total cost comes to $1,367.00. With a quarterly dividend of $0.73/share, the yield comes to 4.27% and this purchase adds $58.40 to my forward annual dividends. This purchase price is slightly less than the price I paid in November $68.70.

Like I mentioned last month, this could be bad timing. With the oil price still under pressure, the stock could decline further over the next few weeks/months. But with a great dividend yield and 14 years of consecutive dividend growth, I believe that this is a great stock to be invested for the long-term.

Morningstar has a fair value of $79.00 for the stock and it is rated 4 stars.

This will most likely be my last big purchase for the year unless some attractive opportunity comes up. I will be doing my weekly purchases though.

The portfolio page will be updated soon to reflect this purchase.

Disclosure: Long COP

Image courtesy: conocophillips.com

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2 thoughts on “Recent Purchase – COP

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