Market rewarding managementAlthough management may not have the complete confidence of investors (i.e. beacuse of lack of a hedge), I believe the market is rewarding their prudence in all but eliminating the dividend. COS is one of the first to take such drastic actions. The yield is somewhere around the 2% range, which now reflects the risk of the company. There will be a bit of a correction for today's and Friday's gains, of course, but long-term this is a great buy - especially with the forecast dividend of 0.65 per share @ $75 WTI (that was plastered all over BNN).
416