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BP is a good buy

Discussion in 'Politics' started by B_starinvestor, Jun 4, 2010.

  1. B_starinvestor

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    I posted this in politics, because the controversy and political windfall it has brought about are exactly what makes BP a potentially outstanding investment.

    Due to the blown oil well, the loss of goodwill, and the overall outrage directed at BP, the stock has fallen to $37 per share from a high of $62.

    They are still earning $4 billion per quarter in profit.

    Dividend yield is around 9%.

    Current P/E is 5 to 1 and they are growing earnings 20% per year.

    Absurd.

    If they pay $4 billion as a result of this catastrophe, its only 1 quarter of earnings.

    If that stock gets any closer to $30, its a heckuva buy.

    The catastrophe is horrible, disgusting and heinous.

    I'm pretty sure BP didn't do it on purpose, but still - shame on them. The silver lining is that you can now profit on this disaster.
     
  2. D_Alec_Baldtwins

    D_Alec_Baldtwins Account Disabled

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    Right up to the point where they spin off anything profitable into new corporate entities and then bankrupt the old one? :)
     
  3. FRE

    FRE
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    Do you recommend that I call Merrill Lynch and direct them to do a reallocation?
     
  4. B_starinvestor

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    I recommend that you transfer the Merrill account to an independent advisory firm and then scoop up some BP.
     
  5. mitchymo

    mitchymo Well-Known Member

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    Conspiracy theory view:- rich elite see way to profit on accident by making a big deal about it all being BP's fault as opposed to any other company so they can buy cheap shares or whatever.

    Its like with war, bankers love a good war cos it means bankrolling governments. Wherever there is catastrophe there are vultures.
     
  6. B_starinvestor

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    I prefer prudent opportunists.
     
  7. Stretch

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    I believe I just heard the sound of Dick Cheney dropping to his knees...mouth wide open and ready to pay homage to you :rolleyes:
     
  8. mitchymo

    mitchymo Well-Known Member

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    same difference tho
     
  9. Industrialsize

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    I'm currently BOYCOTTING BP.
     
  10. B_starinvestor

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    A lot of people are. And I'm not saying that's wrong.

    But that is one of the reasons the stock is getting pushed down artificially low.

    Their market cap has dropped $50 billion from the stock's 52 week high.

    That's a big drop.
     
  11. mitchymo

    mitchymo Well-Known Member

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    Can someone please tell me who BP are drilling the oil on behalf? Its deep sea drilling right? Is that within US waters?
     
  12. B_starinvestor

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    A big part of their business is exploration.

    The offshore rig was actually owned by Transocean Offshore - a company that does offshore drilling, but the rig was leased by BP.

    Off the coast of Louisiana.
     
  13. mitchymo

    mitchymo Well-Known Member

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    Is Transocean Offshore an american company?

    Do we know how long it has been leased to BP?
     
  14. Bbucko

    Bbucko Well-Known Member

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    Opportunist is still a pejorative if it still means anything at all:

    Merriam-Webster:



    Wikipedia:


    Free Dictionary by Farlex:
    I especially like the list of synonyms:

     
  15. B_VinylBoy

    B_VinylBoy Banned

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    Not everyone are sleazy, money grubbing opportunists. I'll stick with computers and music. But thanks for the "investment advice". :rolleyes:
     
  16. B_starinvestor

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    yes, Transocean is American. They have leases with all the major oil companies. Transocean is the 800 lb gorilla of offshore drilling.
     
  17. houtx48

    houtx48 Well-Known Member

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    Do we know how long it has been leased to BP?.................Lease is up it that rig it is in the bottom of the Gulf of Mexico. When a company develops a field they will often use the same rig to drill a number of wells.
     
  18. slurper_la

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    ^ That, in a nutshell is what's wrong with America today!
     
  19. mitchymo

    mitchymo Well-Known Member

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    Surely Transocean has some responsibility? I mean, if it was their rig to lease, have they suffered any negative equity from this disaster?
     
  20. B_talltpaguy

    B_talltpaguy Banned

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    Is this sort of thread permissible here? On any forum I've ever been a member of, soliciting people to buy anything is a big no-no.

    And btw, if you think BP is cheap now, give it a few months, when the oil is washing up all over Florida and is in the Gulf Stream. I say it eventually goes below $30, maybe even $25... Remember, there are criminal investigations now in process, and if BP is found guilty of anything, you're going to see a shitstorm over them being pushed out of the US like hasn't been seen since the Dubai Ports World controversy.
     
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