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BP Share Chat (BP.)



Share Price: 432.85Bid: 432.55Ask: 432.75Change: 0.00 (0.00%)No Movement on Bp
Spread: 0.20Spread as %: 0.05%Open: 435.80High: 436.75Low: 431.90Yesterday’s Close: 432.85


Share Discussion for Bp (BP.)


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thistle
Posts: 13,513
Off Topic
Opinion:No Opinion
Price:455.00
Seeking Alpha
5 Sep '14
We were bullish on BP into today.
We are even more bullish now that shares are trading at a significant bargain.
The inconvenient fact of the matter for some is that BP (NYSE:BP) isn't going to be going anywhere anytime soon. While certain contributors on this site seem to think that the Gulf Oil spill is going to result in some kind of irreversible "cash hemorrhage" that the company can't recover from, it's simply not realistic. And also, absolutely nothing has been confirmed yet.
The judgment today is going to result in a worst case penalty of around $15-$17 billion. To the bears, we are dealing with a company that finished 2013 with $22 billion cash on hand, up from $14 billion in 2012. BP, at the end of 2013, had $305 billion in assets. A $15-$17 billion fine (the maximum), while large, isn't going to do more to BP than the DOJ's fine is going to do to Bank of America.
We had priced this news into our first analysis of the company and still do not see the risk increasing as much as the rest of the market did here.

While we are also aware of the risks associated with BP's stake in Russia's Rosneft, we believe that sanctions over the Ukraine crisis do little more than continue to help represent a long-term buying opportunity for BP shares.

Though the family fund does not currently own BP, a 5% dip like today's in this market represents nothing for us but a buying opportunity.

http://seekingalpha.com/article/2472815-update-bp-judgment-does-not-change-our-very-bullish-outlook?app=1&uprof=45
 
thistle
Posts: 13,513
Off Topic
Opinion:No Opinion
Price:455.00
seeking alpha...
5 Sep '14
BP will appeal the ruling, so there is no immediate direct financial impact, and it "can kick this into the long grass for 10 years... That's why the shares are down 5% and not 50%."
Diver169
Posts: 696
Off Topic
Opinion:No Opinion
Price:455.00
Getting shafted in the courts
5 Sep '14
BP today asked the Court to remove the administrator of the Gulf claims program. We took this action because it was recently revealed that he had not properly disclosed his prior representation of the state of Louisiana, as well as its businesses and residents, in Deepwater Horizon-related matters that directly overlap with his current responsibilities as Claims Administrator. Mr. Juneau's bias is evident not only in his relationships before assuming his current position, but also in his work during his tenure at the claims program. We believe that he has adopted positions on critical issues that deviated from the settlement program and mirrored those he took on behalf of his prior clients.
Diver169
Posts: 696
Off Topic
Opinion:No Opinion
Price:455.00
View Thread (3)
RE: APPEAL
5 Sep '14
The owner is responsible for all operations, you can't delegate responsibility, BP approved the procedures and BP ultimately decided to move the rig. I'm waiting to see how low this goes before topping up as it will recover. But this will impact current operation spend, so it will be a slower recovery.
GLA
MY21
Posts: 3,766
Off Topic
Opinion:No Opinion
Price:455.00
Press Coverage on BP
5 Sep '14
Judge’s negligence ruling catches BP investors off guard: US district judge Carl Barbier’s finding that BP acted with gross negligence and wilful misconduct in the Deepwater Horizon disaster is rooted in decisions taken on the day of the accident, April 20 2010. The details of what happened on that day have been thoroughly rehearsed in several inquiries and in the evidence presented at the trial last year. Yet the judge’s assessment of those events, which puts the oil group on the hook for up
to $18bn in penalties, still took many in the markets by surprise. BP shares closed nearly 6 per cent lower on Thursday. (Financial Times)
maloo
Posts: 420
Off Topic
Opinion:No Opinion
Price:455.00
View Thread (2)
RE: price
4 Sep '14
divided by 6 as there are six shares in each ADS
Kagamine
Posts: 27
Off Topic
Opinion:No Opinion
Price:455.00
View Thread (3)
RE: APPEAL
4 Sep '14
No, panic is good, it means I get to buy more shares at a cheaper price.
This doesn't make sense though. Yes, the oil does belong to BP, but the equipment used to drill belonged to a contractor. Why is BP getting all the blame?
Charlie156
Posts: 34
Off Topic
Opinion:No Opinion
Price:455.00
Price
4 Sep '14
£27.47/6=£4.58
Vidrine and Hafle really cocked up. BP have factored GN verdict into dividend policy, so cut unlikely. 3Q increase unlikely and future buybacks may be affected.
ARSENAL17
Posts: 290
Off Topic
Opinion:No Opinion
Price:455.00
View Thread (2)
price
4 Sep '14
$44.89 = £27.47
maloo
Posts: 420
Off Topic
Opinion:No Opinion
Price:455.00
price
4 Sep '14
Closed in States at $44.89 or £4.58



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