BP - off the hook ? ...and a BUY ?

StevieJ

amcluesent wrote: »

Obamalamadingdong has now ended-up wrecking America's energy security.

In his fit of pique, his announcement of a 6 month ban on deep water drilling is already causing rigs to be sent elsewhere. Looks like it'll be a minimum of two years before lost production can be recovered.

Gas prices at the pumps will be zooming upwards for sure and America will be even more dependent on unfriendly regimes to supply oil. I guess that the closet Marxist on the White House won't mind.

May be he is doing the world a favour by extending the life of oil as a fuel i.e. higher prices.

amcluesent

I'm seeing the race card being played here. Lets looks at the facts -

BP employes 10,000 of engineers, chemists, geologists etc. - not professions chosen by people of colour
The Gulf Coast states voted Republican and 46,000 oil jobs include a lot of good ol' boys and rednecks

I fear that Obama and especially self-confessed 'black as it gets' Michelle don't see many of their people being hurt by trashing BP and don't care about whitey. Just saying...

tradetime

97trophy wrote: »

http://www.marketwatch.com/story/bps-market-value-halves-as-spill-costs-loom-large-2010-06-09

RHB wrote: »

Does he realise its June 10th, not April 1st?

BP have something like $70bn in assets, and have so far spent a little over $1bn since something like late April when the spill started. Their postponed-unpostponed dividend payment alone was going to be/will be $10bn. All even vaguely serious commentators generally agree that the main damage to BP will be from loss of reputation in a market they were already perceived as foreign, when the impetus to "Buy American"/be generally nationalistic is far greater than in most of Europe, and the consequent potential revocation of contracts by the federal government and lack of consideration for future contracts. Rather than the frankly pennies in comparison of clearing up this spill, compensating workers for anything up to decades of lost earnings and compensating states or at least helping them secure their coastlines from or remove it.

Plus Transocean/Halliburton/Cameron et al may end up sharing some of the final burden.

He probably has a very large short position.

StevieJ

Jonbvn wrote: »

They look like a screaming buy to me now.:cool:

I am a bit hacked off that I didn't pick up on the opening show, unfortunately otherwise engaged I think sentiment may be turning in that some British business leaders are becoming increasingly concerned (FT front page) with the personal rhetoric emanating from the US, this may well be a inflection point.

StevieJ

Interesting figures and justifies the Woodford stance on oil shares ( fortunate again).

According to the FTSE Group, the fall in BP shares has knocked 232.23 points off the blue-chip index since the disaster, accounting for a third of the 697.83 points - 12pc - fall in the FTSE 100 over the same period.

tradetime

StevieJ wrote: »

I am a bit hacked off that I didn't pick up on the opening show, unfortunately otherwise engaged

Sadly in the same boat, software problem took out my main computer by the time I had run a restore market was up and running

Lokolo

tradetime wrote: »

Sadly in the same boat, software problem took out my main computer by the time I had run a restore market was up and running

What do you use?

Bollingbrook

On my share dealing service it says BP Dividend Yield is 9.77%. I thought dividend yield was defined as ‘the dividend per share divided by the price per share’, but by this computation on yesterdays closing price I get a figure of 2.2% (last dividend 8.68p per share, and the closing share price yesterday was 391.55p).
If I buy shares through a share dealing service I assume I receive the dividends.
What exactly is dividend yield for BP at current prices?
I know they may, or may not suspend their dividends for now, but longer term is the dividend yield itself a good reason by buy BP now?

Lokolo

Bollingbrook wrote: »

On my share dealing service it says BP Dividend Yield is 9.77%. I thought dividend yield was defined as ‘the dividend per share divided by the price per share’, but by this computation on yesterdays closing price I get a figure of 2.2% (last dividend 8.68p per share, and the closing share price yesterday was 391.55p).
If I buy shares through a share dealing service I assume I receive the dividends. What exactly is dividend yield for BP at current prices. I know they may, or may not suspend their dividends for now, but longer term is the dividend yield itself a good reason by buy BP now?

The dividend yield is of the last dividend on todays price. Hence why it's so high, because the last dividend was about average, but not the share price has tank, the amount of money they gave out compared to share price is quite good. Future dividends are not known until ex dividend date, which is the last date to buy shares to recieve a dividend a few months later.

They are also not guaranteed to give out dividends.

tradetime

Bollingbrook wrote: »

On my share dealing service it says BP Dividend Yield is 9.77%. I thought dividend yield was defined as ‘the dividend per share divided by the price per share’, but by this computation on yesterdays closing price I get a figure of 2.2% (last dividend 8.68p per share, and the closing share price yesterday was 391.55p).
If I buy shares through a share dealing service I assume I receive the dividends.
What exactly is dividend yield for BP at current prices?
I know they may, or may not suspend their dividends for now, but longer term is the dividend yield itself a good reason by buy BP now?

The dividend value you are looking at is a quarterly value.