Member Info for kince360

It's only natural after BP cut its divi that there will be speculation in subsequent quarters about whether it will do so again. I think lodan1 has outlined one very good reason for suspecting why BP won't. If the analysts estimates are accurate we may get some idea how many believed or didn't believe the rumor mill from the price action on Tuesday. Fingers crossed.

In any event ,will continue buying until my allocation is filled assuming further price falls ( 25% left) not too concerned for the long term health of the company if the divi is cut tbh.

Demographics ?? Well ok. Just so long as we are in agreement that the really calamitous events of the past century, the ones that bought Western Civilization to the brink and forced governments to pile on debt ( WW1 , the Great Depression , WW2 , the Financial Crisis...), were all precipitated by Conservative Ultra Nationalist Trump Supporter types ( and that's not intended as an acronym ) and not immigrants.

Let's also not forget that globalization is a two way street and English is it's language. As an English speaker you have employment opportunities almost anywhere on this planet.

He means Muslims. It's the old blame the foreigners for all our eff ups mantra . Anyway, you don't need a time machine to realize that it has ever been scientific discovery and innovation that has been perpetually reshaping our world view . In other words, Bronze age ideologies et al will either be forced to adapt or die by a future shaped by technology.

Well it does look cheap! There are renown brokers tipping this stock to blast past 350-400-500 quid. We are buying an asset no one wants to own . Being greedy while others are being fearful.

What does anyone really know about where this stock is going ? Might as well buy it because you think it's cheap.

Welcome to the Mad House Webba1

I have a small holding in BP and going into today a cost average of 260.So, I should have sold this morning when the price hit 208 but I bought some more instead. Why? We all know about stop losses . No one here should be nursing losses of more than 20% but here we almost all are .
Conclusion ... We're all mad over here.

There are people selling BP at these prices so they can pile into alternative energy stocks that were until a few months ago bumping along on their 52 week lows but have since tripled, quadrupled and morerupled in value. Why ? Are we post pandemic going to use any meaningfully less oil than we did before? Will we all be driving electric cars come spring ?
Conclusion.. they're all mad over there.

If you are leaning towards quick and lucky then I think the momentum game of buy high and sell higher is probably more your thing. Good Luck

Jezz, if this keeps up we will all have cost averaged down to ZERO by the end of the year !

Like many, I too am frustrated with the share price performance but view this as an opportunity to buy more. I don't view the criticism of B Looney as particularly fair. It seems to need pointing out that you cannot buy an oil stock who's share price is not in a downward trend. Those who point to RDS's relative outperformance with respect to BP's should be aware that this is because BP has traditionally been more focused on upstream operations which means that it's profits are hit harder then oil is lower. The dynamic reverses when OP goes higher and BP will start to outperform RDS.
Looney understands that people are not going to invest in a company that they don't think has a future and the future is definitely in renewables . I am not as sure as some on this site that doubling down and rejecting a future based on renewables would have led to a currently higher share. ( eg Exxon)

Yes, sage advice indeed but where's the fun in it. Are you a man or a mouse ? Now pay your fare and get on that roller coaster and show me that you have 'it'.

Yes, Interesting price action today. I think the spike corresponded to the release of data on the employment situation in the US. My current pet theory is that people have been selling stocks like BP to chase the momentum rally in Tech and as that falters we will see some of that trend reverse.

Like everyone else I am trying to rationalize the share price decline despite the oil price remaining consistently above 40USD. Could it simply be that the old economy stocks are being sold off by those chasing the tech rally or are we pricing in another... dare I say it... dividend cut ?

You're sitting on it !

Round and round she goes......

It's all stations to Barbados .

All will be well that ends well and if we can pick up some during a sub 2.50 sojourn then all the better. We are not after all experiencing something that is company specific, the whole industry is tanking and if there is some collateral damage forcing the weaker hands out then those left behind like BP will be all the stronger for it.

Oh, the grand old Duke of York ,he had 10 thousand men.......

Having recently got back into BP i personally wouldn't mind the opportunity to purchase more in the 250-200 range or lower but I suspect that would be largely predicated on whether the market expects BP to cut it's dividend entirely.

First time I bought into BP was during the gulf of Mexico disaster. I remember that purchase because that evening the news coverage showed a huge fireball erupting over one of the clean up tankers and the shares divided another 10% before bottoming. I feel this is where we are now and so I just bought back in after several years absence. I think it will be a big surprise to everybody ( including the shorts) if BP doesn't bounce back to 5 GBP in the next few years. Let the big boys chase their tech rally ( which we all know will end in tears). I'd far rather be owning an offline company like BP that is priced in a way that already reflects where we are economically. In the sh....

costas, Penny wise pound foolish just like me.