Dudley must be getting pretty desperate if he is going back to the Gulf oil claimants trying to get money back. This stock hits 25-28, which it will shortly and XOM will gobble this company up in less than 1 second. How do I know that, XOM has suspended all stock buybacks!!! The last time they did that was 1999 when Exxon bought Mobil. BP is about to get chomped!!!
I own BPL and I expect to receive , let's say on 5000 shares, a total of $236,000 in distributions over the next ten years. Now that's a nice income and it does not count the stock rise or the distribution rise. My advice is hold or buy at the lows of oil.
I also love that since 1988 they have never reduced the distribution and they have been in business for over 100 years. Been through many ups and downs and always come through for their stock holders!
I plan on living on the distributions and leaving it to my child and her family. ps. When funds are buying they take the shares they own off the market. No one bids against themselves. I don'' have my shares in support right now because I am buying.
BioLargo’s (BLGO) AOS filter is being unveiled at a showcase next week to the big industry players by researchers at the University of Alberta. The AOS Filter has been validated to decontaminate and disinfect water 100 times better, 10 times faster, and at 1/20th the cost of closest competing technology.
BioLargo has been invited to be an NSERC chair member to help decontaminate massive tailings ponds in Canada.
BioLargo sits on this chair along with Suncor, Syncrude, Shell, Canadian Natural Resources, Total, Epcor, Alberta Innovates, Alberta Environment and the University of Alberta.
The AOS Filter is the biggest breakthrough in water treatment in history and will be showcased this August to major industry executives.
The showcase will demonstrate the unprecedented results of the AOS Filter and the data the industry is looking for and will explode share prices.
Walter Schindler just joined BioLargo as a key strategic advisor.
When the story leaks out shares will explode. Shares are just starting to move and are a steal at anything under $1.00
12 month price target $3
24 month price target $12
Sentiment: Strong Buy
rrb i agree with u about oil and blp and paa.sold both took a nice profit right before going ex.
i have ltcg losses so love booking the gains.
also since no dist.no recapture.
waiting for the next big sell off to repurchase paa and bpl.
.love bpl in mid 60s and paa in mid 30s.
then will load up.
also still hold gel.love em.
waiting for them to hit mid 30s.
im very patient here and if u wait the market does give u gifts.
as for mwe completly done.
sorry they sold but semple knows more then me.
if he needs marathon to grow thats his call.
epd under 20 another steal as also ete at 45 or lower.
u never know in this crazy market.
Buckeye's results were quite good given the commodity price environment and also given that the 2nd and 3rd Q's are usually weak for BPL. They are still projecting 1.0x coverage for the year.
As for oil pricing, I think we are in a panic mode right now. It is clear the market is oversupplied. That oversupply will take another 6-12 months to work off. Rig count is now down over 50%, and we all know that it is a leading indicator. Bakken production is starting to flatten off, other basins will follow. I don't know where it will bottom, but I do know that the world cannot be supplied long term at $45/bbl. I think I have seen at current rig count, US production is scheduled to drop by 500K bpd this year. It remains to be seen.
PAA, another holding of mine, has some excellent presentations where they talk about long term supply demand fundamentals. They note that over the 4+ years of $100+ oil, the rest of the world produced essentially zero growth while the US/Canada grew volumes by 3+ million. It seems obvious that US production needs to drop, but US basins may not be the high cost producers, meaning other supply sources may drop, such as the North Sea etc.
Long term sustainable price seems like $60-$65. I think the rest of this year will be rough or producers but a glimmer of hope may be coming in 2016.
Remember buy low sell high?? I don't think oil can go much lower than $40 because companies won't pump for losses.
End of year estimate. Could be we are where we are for a while but if you look at the long term this is a company to own. They are preparing for strong changes when the Jones Act is repealed. They are sitting at the crux of huge earnings in the future. I will collect my $4.60 plus and wait for oil to rise.
I agree, BPL is an investment. My pops bought this stock back in the day & I inherited BPL after he passed away some years ago. As far as trading this stock goes it seems to me that when "investors" complain about manipulating happening they might use BPL as a prototype. I'm always fascinated how BPL can jump a buck or two with no particular news on a daily basis. Jumping either way it seems. Sooo an"investor" who has a great deal of shares can feed them into the stock & I believe ,control the price to a degree. Just my opinion of course. On the other hand if one were able to master the pattern & jump on board they could be handsomely rewarded!
They have been raising the divi by a penny or so for so long, it seems like normal. I know the storage business is v. good and airline fuel is so good its illegal. So maybe they will hold pat this quarter. I got some more at $70, but not loading up the truck.
The market appears to be puking on anything midstream. Looks a lot like 2008. Selling begets selling as leveraged players get margin calls. Anything and everything gets sold off.
Clearly some of the midstream firms are hurting, Buckeye isn't immune, but they do have a large exposure to refined products, which have generally tended to be relatively stable. Overall refined product use in the US has dropped over the past few years. BPL's recent acquisitions appear to be performing ok. It seems like it typically takes BPL 2 years to fully integrate and start getting accretion.
I look for BPL to keep plodding along, irrespective of the malaise. Low oil prices are going to be a pain for 6 more months and perhaps into 2016. $50 is below the long term sustainable price. It's ugly, but the market will muddle through it.
The Trafigura deal will be interesting. I expect it will start contributing within a Q or 2. Eagle Ford appears to be one of the lower cost basins with steady supply, though it may be flattening off some.
So nice of you to post. However, I find that posts like this are usually right before distribution and designed to strip shares out of longs hands into theirs.
Agree, and if and when the Jones Act is over and done with and the USA gets to compete worldwide, this company will be fantastic. Also, this company has been through different market ups and downs for 100 years plus in some form. Oil price is low now but how long will that last with the Middle East and ISIS.
i don't think so. the energy sector as a whole is out of favor with Mr Market and that will not soon change. the price of oil is depressed and will continue to be. any company within that sector will continue to suffer. as PPS continues to decline, that loss of capital will not be covered by yield.
i just got out and suggest other retail investors do the same. am moving more into the financial sector with large and regional banks.
good luck to you.
Sentiment: Strong Sell
BPL is a relatively low risk MLP. They overpaid when they bought back the GP and that hindered growth for a number of years. From an asset mix standpoint, they have a nice mix of quality pipelines and storage terminals. Revenue and cash flow does not appear to be severely impacted by the drop in crude prices.
I think they have projected a relatively weak 2nd and 3rd Q but a strong 4th Q and full coverage for 2015. The recent Trafigura deal will likely result in modest growth in '16 and '17 and perhaps tempered by recent rate settlements.
Management seems to have done a decent job of integrating recent acquisitions into the mix.
Ultimately, I see BPL being acquired and rolled into another MLP.