RE:Today's rbc view I would hope that long investors in COS see this as a good thing. The best course of action for any oil company is to do what it takes to preserve its balance sheets. Keeping a nominal dividend will allow some institutional investors to retain their shares. Ironically, I would expect the shares of COS to actually increase when this announcement is made as I think this move has already been priced into the stock.
My hope is that COS gets bought out in what I believe is a major consolidation of oil companies that will begin happening once this 1Q is out of the way.