As Tide Goes Out, Effects Of Buybacks Exposed – The ConocoPhillips (COP) Poster Child

As Tide Goes Out, Effects Of Buybacks Exposed – The ConocoPhillips (COP) Poster Child by 720 Global Last week, ConocoPhillips (COP) unexpectedly slashed their dividend and further reduced capital spending plans. “As the Tide Goes Out, Effects of Buybacks are Exposed” contemplates the financial position COP might have been in had management not repurchased shares in recent years. This article follows a series of three articles that 720 Global has written on the topic in recent months emphasizing the hidden damage buybacks impose on shareholders and the economy as well as the questionable motives driving most of these decisions. Considering the recent market turmoil and likelihood…