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David Messler

David Messler

Mr. Messler is an oilfield veteran, recently retired from a major service company. During his thirty-eight year career he worked on six-continents in field and…

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Is This The Best Dividend Stock In Oil & Gas?

Cash

The moderating global growth story from trade tantrums, primarily between the U.S. and China, have kept a lid on the fortunes many of the Super Major oil companies through the second quarter. BP, (NYSE:BP) is no exception here, having declined about 7% from its early April peak of $45.23/sh to $42ish.

There was a time in late May where it looked like it might crack $40 on the downside, but that never happened. I imagine due to yield hungry investors looking for income, swooping in and gathering up its shares for a 6%+ yield on cost. Shares have rebounded above $42.00 since as a result. As we move into the latter part of the second quarter, I think we may see that magical 6% yield return, and think investors should take a close look at this company.

In this article we will review BP's first quarter review the pipeline of new legacy oil and gas projects and highlight some of their growth areas.

Q-1 Results

The current weakness in shares is due (ex-trade fears) to moderating results from lower crude realizations in Q-1 versus Q-4; currently $63/bbl, down from $69/bbl. This put a knock on what BP refers to as it "replacement cost profit," landing at $2.4 bn, a decline of $0.2 bn YoY, and a big drop from the $3.5 bn for Q-4, 2018. GoM turnaround activity,…





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