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To: rnsmth who wrote (11707)	5/6/2012 12:21:15 PM
From: E_K_S	Read Replies (2) of 15842

Frontier Communications Corporation (FTR) I noticed that after receiving the dividend in 9/2011, I sold all my FTR at $8.85/share, Didn't realize that the stock has fallen so far to $3.89/share. I guess the lessen is to stay with the larger more diversified "Aristocrat" companies. Marathon Oil Corporation Common (NYSE: MRO) Marathon Petroleum Corporation (NYSE: MPC) ConocoPhillips Common Stock (NYSE: COP) Phillips 66 Common Stock (NYSE: PSX) Now that COP has spun off Phillips 66 (PSX), I am not sure if I should sell all or a portion of these shares. PSX is still a huge company w/ a market cap of $20B. Even after they close their refinery sale to Delta $150M, PSX will be one of the largest refineries in the world. Phillips 66 has stakes in 15 operating refineries as well as a chemical joint venture with Chevron Corp. and a pipeline unit with Spectra Energy Corp. The company has touted future growth from pipelines and chemicals as it seeks to reduce its refining holdings. Phillips 66 shares dip after first day of NYSE trading tulsaworld.com From the article:"...Phillips 66 may seek to put more assets into an existing master-limited partnership, or MLP, related to its pipeline venture, Garland said, or the company also may look at forming a new MLP. Garland said more clarity on Phillips 66's MLP plans may come by the end of the year. "It's part of the value equation that we have as a company," he said. Phillips 66 plans to increase its 80-cents-a-share annual dividend "modestly" over time, Garland said. The company believes in annual dividend increases, and Phillips 66 will release a plan for share repurchases over time, he said....". ------------------------------------------------------------ It looks like the dividend for PSX will be in the range of 2.5% - 3%. They have a lot of really nice pipeline assets too. The new COP will have a dividend in the 5% range. I think I will hold both companies to see what their first set of separate financials look like. When MRO spun off it's refinery division it traded down for several months and is now actually trading higher from the initial spin off price. Hindsight: The Marathon Oil Refining Spinoff And The Prospects For Phillips 66 seekingalpha.com I suspect we will see something similar for the COP & PSX spin off. I plan to do nothing for at least six months. EKS

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