ConocoPhillips Crazy After Q4 Miss And Dividend Cut

ConocoPhillips COP shares are trading lower by $2 at $36.63 in Thursday's session. The issue has been all over the place following a Q4 miss for EPS of ($0.35) along with a substantial revenue miss. Also, the company lower FY 2016 guidance and slashed it quarterly dividend from $0.74 to $0.25. In chaotic trading, the issue managed to open flat but its brief rally stalled just above Wednesday's high ($38.73), reaching $39 before sharply reversing course. The ensuing decline did not end until it found support ahead of Wednesday's low ($35.59), only reaching $35.92 before rebounding back into the $36 handle. Despite all the bad news, the issue has not come near it low for the recent slide that was made on Janaury 20 at $32.71.