08-17-2013, 12:16 AM
Chevron (CVX) and Kinder Morgan (KMI) are my two oil-related stocks. However, I've been thinking of picking up some discounted shares of BP. My thinking is that Wall Street has already priced in the costs of the Horizon Deepwater litigation. And, with a current dividend yield of 5.23%, the stock price can't really afford to drop much more. If BP can re-initiate dividend growth is another story. I like buying products that I frequently use and BP is huge in Wisconsin.
A negative against BP is that my girlfriend's sister works for XOM and says that BP has by far the worst safety profile of all the major oil companies. Though, she is obviously biased and would think (hope) that BP has more focus on safety after its recent troubles.
A negative against BP is that my girlfriend's sister works for XOM and says that BP has by far the worst safety profile of all the major oil companies. Though, she is obviously biased and would think (hope) that BP has more focus on safety after its recent troubles.