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Jeff Auxier Comments on BP

- By Holly LaFon

CEO Bob Dudley's bet on market stabilization has paid off with oil prices steadily rising since the new year leading to increased margins. BP (BP) has also started to reap the rewards of their heavy investments in discovery and technology. Their recent expansion in the Atlantis platform network increased production to 200,000 barrels of oil and 180 million cubic feet of natural gas per day. Meanwhile, their technology investments have allowed them to reduce overhead and cut their operating costs. BP has a dividend yield of over 5.5%.

From Jeff Auxier (Trades, Portfolio)'s first-quarter 2019 Auxier Focus Fund shareholder letter.
This article first appeared on GuruFocus.