The stock yields 5.5 percent now thanks to the recent brutal sell-off, paying you to keep owning the shares. However, the pain is becoming 'real' as the stock has fallen off in a massive fashion with the price of oil. Since peaking at 87 about a year ago, COP has crashed hard down to this new recent low of 53.
How to play this?
If you have no position - this is a good time to buy a few shares. And by few, I mean - if you're looking to put 10k into oil stocks and this one temps you - buy less than 2k on the first installment. Do not rush into ANY oil service/sector/integrated stock. ALL of the charts are broken by the price of crude oil.
I've said many times - the dividend will act as a floor, but is the dividend safe? That is the big question and due to the likelihood that the price of oil will remain depressed, there can be no guarantee that the dividend IS safe. Therefore, I can only give a tepid recommendation to own shares of COP. Beware there is risk.
If you own shares - I recommend holding. However, selling a stock with a chart this bad can never be too big of a mistake.
Short term rating = HOLD
Long term rating = HOLD