Current Price $26.50 Price Target $32
I Like the oil sector (RDSA,KMI) going into the summer as prices are expected to rise which will have a significant positive impact on earnings for oil & gas companies. BP is trading less than book value (0.97) at only 9 PE (FWD) with a solid 5% dividend. This is a safer hold than most pure play oil & gas companies as BP has made investments into sustainable energy production via its Wind energy projects. They have partnered with Tesla, bp is testing how effectively wind energy can be stored at its Titan 1 wind farm in South Dakota. The high-storage battery technology stores excess energy that can then be used across the site when the wind isn’t blowing. The project will help bp learn more about energy storage applications that could be useful across its entire portfolio.Given the investments into sustainable energy BP shouldn’t be hurt as much as other pure oil and gas plays when we get negative climate headlines (Policy changes, new data).
I Like the oil sector (RDSA,KMI) going into the summer as prices are expected to rise which will have a significant positive impact on earnings for oil & gas companies. BP is trading less than book value (0.97) at only 9 PE (FWD) with a solid 5% dividend. This is a safer hold than most pure play oil & gas companies as BP has made investments into sustainable energy production via its Wind energy projects. They have partnered with Tesla, bp is testing how effectively wind energy can be stored at its Titan 1 wind farm in South Dakota. The high-storage battery technology stores excess energy that can then be used across the site when the wind isn’t blowing. The project will help bp learn more about energy storage applications that could be useful across its entire portfolio.Given the investments into sustainable energy BP shouldn’t be hurt as much as other pure oil and gas plays when we get negative climate headlines (Policy changes, new data).