BP - BP plc (ADR) (NYSE Stock)

[BadThad]

I was hoping to see this pull back to support at $40-41 so I could add....no such luck, $42.29 was the low this morning. With the divy at 4.4% yield, this stock is hard to resist for the long term player.

Current stock price: $43.04

[BadThad]

Hummmm.....I wonder what they are planning on buying with the money? It sounds like they are generating cash to regain some stuff they sold off.

BP Plans Benchmark Two-Part 5Y, 10Y US Dollar Bond Issue
8:43a ET May 2, 2012 (Dow Jones) BP Plans Benchmark Two-Part 5Y, 10Y US Dollar Bond Issue

LONDON (Dow Jones)--BP Capital Markets, guaranteed by energy company BP PLC (BP), is planning a benchmark-size, U.S. dollar denominated, two-part bond issue, one of the banks running the deal said Wednesday.
The senior unsecured notes will come with five and 10-year maturities.
Credit Suisse Group AG, Mizuho, Morgan Stanley, Royal Bank of Scotland Group PLC and UBS AG are the lead managers of the sale.
The bonds are expected to be rated A2 by Moody's Investors Service Inc. and A by Standard & Poor's Corp.

[BadThad]

UPDATE: BP Deepwater Horizon Spill Trial Moved To 2013
6:30a ET May 4, 2012 (Dow Jones) UPDATE: BP Deepwater Horizon Spill Trial Moved To 2013

(adds details)

LONDON (Dow Jones)--A trial to apportion blame and damages for the 2010 Deepwater Horizon disaster will now start in 2013 after the New Orleans judge hearing the case scheduled a new start date.
The delay is a boost for BP PLC (BP), which is facing billions of dollars in fines from the U.S. government for its part in the incident. Federal and state authorities had pressed for a summer trial, arguing that damages payments from the responsible parties was needed to speed up Gulf Coast restoration efforts.
The U.K. energy giant now has more time in which to try and reach a settlement with other litigants, including the U.S. Justice Department and its former contractors on the doomed Deepwater Horizon drilling rig, which exploded in April 2010, killing 11 and unleashing the worst marine spill in U.S. history.
U.S. District Judge Carl Barbier Thursday assigned a trial date of Jan. 14, 2013, more than 10 months after it was supposed to begin.
Barbier halted the civil trial, due to begin at the end of February, to allow BP more time to complete settlement negotiations with thousands of individuals and businesses hurt by the Gulf of Mexico oil spill.
BP has since agreed a $7.8 billion settlement deal with lawyers representing these plaintiffs. Judge Barbier will make a final decision on whether to ratify the settlement Nov. 8, although he has already given a preliminary ruling okaying the deal.
However, the U.K. energy giant still faces actions from U.S. federal, state and local governments. Potential civil penalties, which are based on the amount of oil spilled but increased by any finding of negligence, could top an additional $20 billion. That amount also would be subject to reduction through a settlement.
The company is also locked in litigation with Transocean Ltd. (RIG), the owner of the ill-fated Deepwater Horizon rig; cement contractor Halliburton Co. (HAL), or blowout preventer-manufacturer Cameron International Corp. (CAM). BP has filed cross-claims with those companies alleging they are partially culpable for the accident--allegations those companies have denied.
BP has recorded a $37.2 billion charge for what the U.K. company estimates will be its maximum spill-related costs. It has said the March settlement doesn't change the figure.
The company said it has spent about $22.1 billion on the disaster, including about $8.1 billion paid to individuals, businesses and governments and about $14 billion to stop the leak and clean up the spill. The figure excludes March's settlement but includes $6.5 billion in damage claims BP agreed to pay through an out-of-court settlement system.
BP shares traded lower Friday morning. At 1012 GMT, the stock was down 6 pence, or 1.4%, at 429p, underperforming the broader FTSE 100 index, which was off 0.8%. The Stoxx 600 UK Oil & Gas index, meanwhile, was also down 0.8% at the same time, tracking crude futures lower.

Current stock price: $41.53

I'm keeping close tabs on BP, it's about time to add with the dividend at 4.57% yield.

[BadThad]

Added at $41.10.

My average cost bumped up because I've owned this since the gulf spill. Current it's at $33.15 which makes my yield a whopping 5.79%. That's killer for a super cap stock!

[BadThad]

Getting very close to breaking below $40, I will add again if it does.....and I hope it does. I'm still a believer in BP.

Current stock price: $40.34

[BadThad]

Oh yea....added at $39.02!

[BadThad]

HOT AGAIN! Below $40!

Current stock price: $39.00 (4.9% yield)

[BadThad]

No support below the current level....BP is a super HOT buy right now IMO.

Current stock price: $38.80

BP Technical Analysis

[BadThad]

HEARD ON THE STREET: BP Faces A Tricky Russian Exit
9:00a ET June 1, 2012 (Dow Jones) HEARD ON THE STREET: BP Faces A Tricky Russian Exit

By Andrew Peaple
A DOW JONES COLUMN

BP's Russian chess game isn't over yet. The oil major's sudden decision to put its 50% stake in TNK-BP up for sale could herald its exit from Russia, and end its fraught relationship with its partners, oligarch-led Alfa Access Renova. For investors, signs of a Russian endgame have brought relief, and hopes of a price tag north of $20 billion: BP's shares rose 2.5% Friday. But the British company still has a few moves left to play.
Certainly, BP's timing could have been better. Its relations with AAR have declined since BP pursued an oil exploration agreement with Rosneft in January 2011. But amid falling oil prices, TNK-BP's value has been dropping. Shares in its Moscow-listed subsidiary, TNK-BP Holding, had fallen 29% since mid-March by Thursday's close, valuing BP's share at $18.4 billion.
So BP is unlikely to fetch as much as the $32-34 billion it offered together with Rosneft for AAR's half of TNK-BP last summer. If the thinly traded TNK-BP Holding were valued in line with Rosneft's 5.6 times expected earnings multiple, BP's stake could be worth $21.1 billion. On a discounted cash flow basis the stake is worth $23.5 billion, Deutsche Bank estimates, assuming long-run oil prices at $100 per barrel.
Much will depend on whether BP can generate a competitive process. AAR is one suitor, according to a person familiar with the situation; Rosneft and Russia's other state-owned giant Gazprom could be interested. It's hard, though, to see another western oil major wanting to partner with AAR, while Chinese groups could face political hostility. It's also unclear what rights AAR might have under the existing shareholder agreement.
The bigger question is where BP goes next. Selling TNK-BP for cash could almost wipe out its $33.8 billion net debt, giving it greater financial flexibility. But it will be hard to replace TNK-BP's output, 29% of BP's total, and its $3.7 billion in dividend income, almost equivalent to BP's own payout. One theory is that BP could yet stay in TNK-BP: Threatening a sale could be BP's way of forcing AAR to settle the pair's differences -- or find Rosneft as its new joint venture partner. It's too soon to call check mate for BP in Russia.

[BadThad]

Stock gaining nicely on the next up 1.5% in a market down day (DOW -220).

Current stock price: $37.01