Should I sell my BP shares?

fuddyduddy12

Hello, quick question. I have a few shares in BP. Not much, probably a few hundred if that. Is it time to sell them? I know I won't get very much but something is surely better than nothing and the outlook for BP doesn't look to good. Any advice would be appreciated. Thanks.

dunstonh

Is it time to sell them?

Crytsal ball job. However, its probably got to the stage now where you should buy rather than sell. You have probably missed the sell boat.

nickj_2

bp is a huge multinational company , i think it made a profit of around £6 billion just in the 1st 1/4 of this year , and probablyhas plenty of cash to cope with the oil leak and clean up , if you do sell you will be selling when prices are on the way down , if anything it may be an ideal time to buy more

shaven-monkey

BP make significant profits every year.
Even if the US administration prohibits their issuing a dividend this year they will make enough in clear declared profits to pay any damages.

Oil is unlikely to become unprofitable in the next 50 years or so, I'd buy BP shares if I had the capital available.

milan_ns

It's a rookie mistake is to sell AFTER the price tumbles.

If you need the cash, I'd wait until some good news pops up and sell - if not, just sit on the shares - BP is likely to recover.

sabretoothtigger

Sell if you think Obama is worse then Hugo Chavez

http://www.reuters.com/article/idUSN1125836420100611


Even Hugo seems to pay for assets he seizes, if Obama forces BP to pay the wages of oil companys in the gulf then it would start to compare badly with Venezuela

Otherwise the share situation is most likely undervaluing BP as only 30% of the company is usa based apparently


The market pretty much immediately reflects what it thinks will happen in the next year. If you have greater foresight and think it will be worse then expected then sell or vice versa

bengalknights

hold or buy is my suggestion ive been buying large amounts for past week and half on the basis that its profits will more than cover any of the crap the yanks throw at it.

getmore4less

Anyones guess.
If you sell is it to get out completely or to try and buy back cheaper(trade)

reports are

The lealk was caused by failure in equipment supplied by US companies.

The US are refusing help from companies that can clean up faster than the US ones(Jones act prevents foreign shipping).

The mess is not as bad as the media say.

alson with that this is a political hot potato and with Obama out of his depth anything could happen.

There is flawed logic in stopping oil development in the gulf and having BP pay.

If its BP fault then the rest should cary on no reason for them to stop.

If it is a generic problem then it is not BPs fault so they should not pay.


The fight back has started and this could get messy.

sabretoothtigger

BP is going pay whether its their fault or not. The main difference is criminal and punitive damages if they made decisions that stopped safety stages taking place.

The entire company could be forfeit according to some though you'd have to be an expert on american company law to really argue the point I guess
The USA seem to be changing the laws after the fact to make them more liable then would otherwise be the case so nobody knows is about right

The new calculation suggested that an amount of oil equivalent to the Exxon Valdez disaster could have been flowing into the Gulf of Mexico every 8 to 10 days

BP is the operator and principal developer of the Macondo Prospect with 65% of interest, while 25% is owned by Anadarko Petroleum Corporation, and 10% by MOEX Offshore 2007, a unit of Mitsui

Does this make BP 100% liable for cleanup costs or 65% partly liable along with other owners.
The situation seems much more optimistic if solely american companys are jointly liable.

I think any criminal damages would be against each company seperately including haliburton, etc


http://en.wikipedia.org/wiki/Deepwater_Horizon_oil_spill

malik999

fuddyduddy12 wrote: »

Hello, quick question. I have a few shares in BP. Not much, probably a few hundred if that. Is it time to sell them? I know I won't get very much but something is surely better than nothing and the outlook for BP doesn't look to good. Any advice would be appreciated. Thanks.

Everyone has a different opinion on this. No right or wrong answer as no one knows what is going to happen. If you haven't sold before now my advice would be to hold at this stage. Like some other posters i've been constantly buying BP during this disaster. Not for the faint hearted.
Price currently £3.91.

stator

You make money on the stock market by buying low and selling high, not the other way around.