Author: Marc Lichtenfeld, Wealthy Retirement

With 23 years of dividend increases, the dividend is fairly safe. But that could change quickly if cash flow continues to deteriorate as anticipated.

If this were a stock, I’d be eager to buy it, as it’s in an uptrend and coming into support with momentum starting to shift.

Falling free cash flow and a payout ratio over 100% mean the dividend isn’t safe.

Management may have some very tough decisions to make in the near future…

In short, investing when oil prices are rising is like driving during a bad storm. It doesn’t necessarily mean that a crash is coming, but you should be paying closer attention and proceeding more carefully.