BP Is Still A Solid Investment With Brent Below $70
Shares of BP (NYSE:BP) have not done well over the past year. A combination of Russian tensions, lower crude prices, and an adverse ruling over BP's violation of the Federal Clean Water Act has weighed on BP's stock.
I don't think there is any reason to worry.
Much like ExxonMobil and Chevron, much of BP's portfolio are decade long investments that should do well in a broad range of crude prices.
BP, for example, reported positive profits and positive free cash flow in 2008 and 2009, when crude prices traded at one point around $35 per barrel.
- Seeking Alpha
- Published on:
- December 8, 2014
- Source url: