Attention, those of you who own Noble Energy, Inc. (NBL): NBL has completed a merger with Chevron Corporation (CVX). The merger includes a trade of 0.1191 shares of CVX for every 1 share of NBL previously owned. As a result, some alterations need to be made to your Snider Investment Method worksheets.
Lattco PRO & Lattco AutoPilot clients: the adjustments have been made for you and should be reflected in your account by next Trade Day.
NBL, and now Chevron, is in a frustrating position as it has declined significantly since we initially purchased shares. In most cases, it has been and will remain in winter until the price appreciates. The merger may create additional difficulty in implementing the standard Snider Method. At this time we are not recommending clients sell the shares. If you reach a point where the share price is similar to your last adjusted purchase price, please contact us. We will evaluate the position together to decide if transmogrification is the appropriate course to take.
