British Petroleum?

[scott]

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.

[EricL]

For whatever reason, BP does seem to have more safety incidents than others but I agree that it is an attractive buy right now. I started a position in BP along with COP early in the week. Both have attractive yields and I think either is a great long term buy and hold at current prices.

[Kerim]

I agree with your general premise about BP, Scott, and I certainly love picking up good DG stocks on sale. That said, I don't follow BP as a stock very closely as it is not something I am allowed to invest in directly due to my job. When the share price was down in the 30s after the spill, though, I would have loved to pick up some shares. Good luck!

[rapidacid]

Does anyone DRIP BP in Ameritrade? If so, have you received your shares yet for the dividend from a week or two ago?

[ChadR]

I use ETrade and I still haven't received my shares as of this morning.