Scoop Up Some Conoco Shares
After the close next Monday ConocoPhillips (COP) will split off its refining and marketing arm, along with some chemical operations, into a separate company named Phillips 66. It will trade under the symbol PSX. The exploration-and-production businesses will remain under the present symbol of COP.
The new Phillips will join Conoco as a member of the S&P 500, replacing SuperValu (SVU), which will drop down into the S&P 400. Shareholders of ConocoPhillips will receive one-half share of Phillips for each Conoco share....266 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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