Since I began writing finance articles in 2011, a few opinions of mine have received outsized criticism. Anything relating to gold or tobacco, and anything relating to BP’s merits as an investment after the oil spill.
My view was, and remains, that BP stock has been disproportionately lambasted as a long-term investment after the oil spill due to its dividend cut, high litigation costs, and stagnant stock price over what was an oil spill that occurred over a decade ago.
Amidst BP’s criticism is the fact that it is an enormous company that sells $304 billion worth of energy-related products per year. It is massive. It earns annual profits equal to half the market capitalization of Hershey each year. Thinking about that–if all Hershey stock were available for sale at the current price every day for the next two years, BP would be able to purchase the company outright with … Read the rest of this article!