BP: Takeover Speculation, Low Valuation, Capital Returns

Earlier this month, shares of BP (NYSE: BP ) surged on new takeover fantasy. The British oil and gas major also reported better-than-expected top line results for its first-quarter, despite a drop-off in petroleum prices. BP generated healthy free cash flow andAnalyst’s Disclosure: I/we have a beneficial long position in the shares of BP, XOM, CVX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for ...