BP - BP plc (ADR) (NYSE Stock)

[BadThad]

Reported a good qtr today. Huge dividend payer at $3.36/6.06%. Big oil plays are great for the small investor. These are easy to flip for a quick profit.

BP p.l.c. (BP) is an oil company, operating through its subsidiaries. With effect from January 1, 2008, it operated in two business segments: Exploration and Production, and Refining and Marketing. A separate business, Alternative Energy, reported in other businesses and corporate, handles its low-carbon businesses. Exploration and Production’s activities include oil and natural gas exploration, development and production (upstream activities), together with related pipeline, transportation and processing activities (midstream activities), as well as the marketing and trading of natural gas (including liquefied natural gas), power and natural gas liquids. The activities of Refining and Marketing include the refining, manufacturing, supply and trading, marketing and transportation of crude oil, petroleum and petrochemicals products and related services. In April 2008, BP registered in Russia its subsidiary, BP Exploration Services.

BP plc (ADR) - Google Finance

Current stock price: $55.48

[BadThad]

I jumped in at 58.02 this morning....if necessary I'll hold for the divy.

[BadThad]

Oh yea, 58.52!

[BadThad]

Stock dipped back down, good buying opportunity for this oil giant IMO. One of few stocks that are worth holding due to the huge dividend.

BP upped to neutral by Goldman
3:57a ET October 28, 2009 (MarketWatch)
LONDON (MarketWatch) -- BP was upped to neutral from sell by Goldman Sachs which lifted the oil major's U.K. listing's price target to 685 pence from 615 pence while keeping the ADR at $67. The upgrade is on Goldman's bullish view on the oil price, BP's cheap sector valuation and the strong operational leverage thanks to the benefits of its cost-cutting efforts.

[teenwolf41]

Great dividend, well worth buying this name.

[BadThad]

Divy:

BP PLC Ex-Dividend for BP - $0.84 Pay Date : December 7, 2009, Record Date : November 13, 2009

[BadThad]

Ouch!

new york (cnnmoney.com) -- the labor department fined oil giant bp a record $87 million for failing to fix safety problems at a refinery in texas.

On friday, the occupational safety and health administration announced the fine, saying bp failed to correct potential hazards at the texas city, texas, plant, where there were 15 deaths and 170 injuries after an explosion in 2005.

After that tragedy, bp (bp) entered a settlement agreement with osha to eliminate the hazards. But osha said that it has since conducted a six-month investigation of the facility and the problems still exist.

"instead of living up to that commitment, bp has allowed hundreds of potential hazards to continue unabated," said secretary of labor hilda solis in a prepared statement. "an $87 million fine won't restore those lives be we can't let this happen again. Workplace safety is more than a slogan. It's the law."

bp, which is based in houston, appealed the fine to the review commission, which makes the final determination. The $87,400,000 fine it must consider is a combination of penalties: $56.7 million for the initial violations and $30.7 million for 439 new violations.

"we are disappointed that osha took this action in advance of the full consideration of the review commission," said texas city refinery manager keith casey. "we continue to believe we are in full compliance with the settlement agreement, and we look forward to demonstrating that before the review commission. While we strongly disagree with osha's conclusions, we will continue to work with the agency to resolve our differences."

if the review board does not overturn the penalty, it will be the largest in ohsa history. The previous record was $21 million, which was levied against bp in 2005.

Shares of bp were down 1.46% in midday trading.

[BadThad]

Oil spill killing this stock!

Attorneys With The Lanier Law Firm Files Class Action Lawsuit Against BP plc, Transocean LTD. And Cameron International Corp.
Friday, 30 Apr 2010 08:20pm EDT
Attorneys with The Lanier Law Firm announced a class action lawsuit filed on behalf of Louisiana residents affected by the oil spill caused by the Deepwater Horizon explosion. On April 20, 2010, an explosion and fire occurred on the Deepwater Horizon, a massive oil rig owned by Swiss based Transocean Ltd. and leased to UK based BP PLC. According to the lawsuit, BP PLC, Transocean Ltd., Cameron International Corporation and Halliburton Energy Services violated the Oil Pollution Act and were negligent in failing to properly operate, inspect, and maintain the Deepwater Horizon rig. Attorneys for the plaintiffs also allege that the defendants' inadequately responded to the explosion and resulting oil leak, causing severe damage to the fragile ecosystem in the Gulf of Mexico. According to the lawsuit, the defendants impaired the response to the emergency, greatly increasing the danger to the environment, human health, and the Gulf Coast economy, by knowingly understating the amount of oil that was leaking from the well. The lawsuit also alleges that the oil spill has formed a vast expanse of thick, poisonous sludge, contaminating an area larger than the state of Rhode Island. The oil slick will continue to expand until the ruptured pipe is shut off, a process that could take weeks or months. - - - - - (repeated)

Current stock price: $48.63

Mid-April this was a $60 stock!

[b_radlewis]

Originally Posted by BadThad

Oil spill killing this stock!



Current stock price: $48.63

Mid-April this was a $60 stock!

I have been shorting RIG and I think I will do the same with BP.

[BadThad]

Upgraded:

LONDON (Marke****ch) -- BP /quotes/comstock/13*!bp/quotes/nls/bp (BP 51.81, +0.61, +1.19%) /quotes/comstock/23s!a:bp. (UK:BP. 569.30, +10.50, +1.88%) was upped to buy from sell at U.K. broker Panmure Gordon, which said the market reaction to the oil spill in the Gulf of Mexico is overdone. The broker said it's unlikely BP will have to cut its dividend. BP could pay up to $2 billion to bring the well under control, 65% of the estimated $10 billion cost on damage to fishing and tourism and punitive damages of $75 million unless BP is found to be grossly negligent or engated in wilful misconduct. But it should get some tax benefits. "We are therefore moving our recommendation on the shares from sell to Buy, and recommend investors switch out of Royal Dutch Shell /quotes/comstock/13*!rds.a/quotes/nls/rds.a (RDS.A 58.00, -2.09, -3.48%) into BP for the yield premium," the broker said