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BP- Buy??
Old 10-08-2008, 03:10 PM   #1
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BP- Buy??

Any input on BP??
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Old 10-08-2008, 05:08 PM   #2
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With current economic situation the pundits are saying we could see $50 a barrel oil before we see it at $110. But it seems to have a good price now and has a decent dividend.
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Old 10-08-2008, 05:09 PM   #3
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buying a stock just because the price crashed, didn't you people learn your lesson with bank stocks?
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Old 10-08-2008, 09:27 PM   #4
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i ask because it has a very nice Div., the price is almost at a 10 yr low, the company does have its hands in the green fuel pot, and oil -whether 50 or 100/barrel, will still produce huge profits for the oil companies until our dependency drops significantly. The PE is also very low compared to their average
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Old 10-08-2008, 10:35 PM   #5
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BP has faced a lot of headwinds lately. Their management hasn't proven to be very good over the last five years I have owned the stock. Lawsuits, scandals, actual reserves being questioned or taken back by countries...

Having said that, the stock has been really beaten up. Maybe it is oversold, but I don't trust the management that something else won't come up. I currently am holding the stock. Not looking to sell and not looking to add... .43% of my portfolio. They have consistently raised the dividend.
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Old 10-08-2008, 10:47 PM   #6
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Quote:
Originally Posted by Uncle Drew View Post
BP has faced a lot of headwinds lately. Their management hasn't proven to be very good over the last five years I have owned the stock. Lawsuits, scandals, actual reserves being questioned or taken back by countries...

Having said that, the stock has been really beaten up. Maybe it is oversold, but I don't trust the management that something else won't come up. I currently am holding the stock. Not looking to sell and not looking to add... .43% of my portfolio. They have consistently raised the dividend.
43% is a lot. I'm looking at more like 1% LOL

Anyhow, I have another energy play I just got into that I like better than BP, but came across BP while researching it's Div's.

It's KMP and luckily I got in really low this morning....to the tune of a 20% one day gain. I'm almost tempted to just sell it now and fugeddaboutit...but I think it's worth holding onto
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Old 10-08-2008, 11:01 PM   #7
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there is a decimal point before the 43. I will look at KMP. Thanks
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Old 10-09-2008, 07:08 AM   #8
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oh geez.....i wondered why ANYONE on this board would allocate 43% to one stock...you have reaffirmed my faith in this board! thanks!!!! kmp is swinging wildly...not sure why? its normally not too volatile....esp yesterday....couldve made 30% on a swing play. but i think it's a strong buy if you can snag it below 44 or so....I have limit orders in around 40
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