In your squinty little narrow eyes and exceptionally weak, unreasonable mind, everyone else is wrong. Have you ever thought that MAYBE THE PROBLEM IS YOU?
You're a basher too, you spend all your time here bashing others with different points of views. Are you a retiree with nothing else better to do with your time? I think so. I've seen people just like you on other boards. You're pushing an agenda, trying to pull people into this stock when it's dying. Fortunately they're smart enough to see through it.
I wouldn't mind owning it, but don't want to buy it and have it plunge. I don't know if oil/gas issues are done falling yet. Buy and sell for the dividend maybe?
All of your multiple identity posts aren't fooling anyone. BPT went up in years past because they had oil to sell. Read the 10-k report and see the recent WSJ article. "BP Prudhoe Bay is dying". The 'rewards' with this issue don't equal the risks. It's time to move on.
I did the math and my $54,000 initial investment would have yielded a lousy $108 distribution for this quarter, the worst ever. Before selling it off last month, I lost FAR MORE than that in the stock plunge and quickly concluded that I'm not in this to gamble and BPT just isn't worth holding anymore.
Sentiment: Strong Sell
I lost $24K on the stock, but made it up (and then some) in distributions. It would have been even worse if I hadn't bailed. There was a recent article in the WSJ which said BPT is dying. I'm afraid it's true, the party's over.
Yeah, I thought the same thing, if the Saudis succeeded in driving competitors out of business, there would be nothing to stop them from jacking prices up through the roof and until market forces equalized the situation, it could be 6-30 months with $100-$200/BBL crude. I hope they fail, there's 150,000 or more oil workers unemployed right now.
There's not 10 years left, that's the point of the 10-k report, the Trust is winding down and will stop paying AT ALL after 2020. There's not 5 years left!
Well, I read it and it was interesting, but I have problems with SeekingAlpha concerning their objectivity. To the point that I try to get my information from some place else. They've cried wolf too many times. I'm not ignoring the basic information, I'm just ignoring them.
A global flood of oil=lower sales=less oil extracted=more still left in the ground. But at this stage of the game, it probably doesn't make much difference, whether it ends in 40 months or 42.
Deducting trust expenses to save on taxes is like running up your credit card so you can get 1% cash back on all your purchases. The biggest problem nowadays is that no one can make a profit when the price of crude is $28-$33/bbl. Saudi Arabia is to blame, dumping huge quantities of crude in their (so far) unsuccessful effort to try and run North American frackers out of business. They've lost their predominant position as the world's largest petroleum producer and are in a major snit over it. In the process, they've upset world markets and damaged the economies of other OPEC members and I think they're about to pay the price for doing it. As far as BPT is concerned, if crude had held it's price, the stock probably wouldn't have plunged so violently, but the fact that the price has gone down so extremely has probably helped extend the life of the trust. No matter what however, they're running out of oil and that's the main issue.
The past 4 dividend payouts have been 4 of the worst across the last 12 years. The January distribution came to a scant $0.60/share. Around April 7th will come the announcement for the 1Q of 2016. My guess is that it will be less than $0.60, probably much less and if that happens, the bottom will fall out of the share price. CAS Investment Partners stated the stock price will likely drop to just the recovery value of the remaining oil, around $11/share. I hated to dump it the way that I did last Thursday, but BPT no longer has a future.
I'm supposed to listen to an anonymous web quack like you who nobody even knows and is completely unidentified, but should ignore the company 10-k report? If you believe your own Bee Ess, then you royally deserve what's about to happen to you. This is the line from a song: "There are none so blind than those who will not see".
It's hard to believe that during that Iraqi 'oil for food' sham of the late 1990s, BPT had actually fallen to under $5/share when Saddam Hussein flooded world oil markets. BPT dividend distributions were also suspended during that time. When things began heating up in 2004, a friend of mine got me into energy issues and it straightened out a number of financial problems I was having. He's since died and would be turning over in his grave if he knew what's going on right now. I read the annual reports, but there was nothing in BPT's last year's to suggest that the situation was going to fall off a cliff like it has this week. The current oil flood I believe is caused by Saudi Arabia fearing it's dominant position being challenged (mostly by North American Frackers), but they've damaged other OPEC members in the process and I think they're beginning to relent to ease the pressure on themselves.
The yield from BPT across the past 12 years had been unbelievable, but I sold out completely yesterday afternoon. It was extremely hard letting go, but unfortunately, all of your numbers add up correctly and the BPT show is now over. You got any suggestions what to buy to replace it? This entire event caught me so off guard, I don't even have a 'Plan B' yet.