On a recent edition of his CNBC show, Mad Money, Jim Cramer, who, it seems, has an opinion on everything,
opined on the prospects for ConocoPhillips(COP) and its new progeny, Phillips 66(PSX). Mr. Cramer compared the spin to last year’s similar transaction involving Marathon Oil(MRO), briefly analyzed the two parts, and concluded that the gains have already been had.
“Now that ConocoPhillips has broken itself up, I think the opportunity here has come to an end, just like with Marathon Oil, where the stock made you a bundle in the lead up to the spin off, but afterwards both stocks were dead money,” Cramer said. “Sometimes the best decision is to just move on and forget about it.”
Dicslosure: The author holds no position in any stock mentioned
- Phillips 66 To Be Added To S&P 500 After April 30 Spin (stockspinoffs.com)