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New Play - Active Trader
Sunday, January 23rd, 2005

Long (Bullish) Play


  BP Prudhoe Bay - BPT
close: 50.21 chg: +0.75 stop: 46.39

Company Description:
BP Prudhoe Bay Royalty Trust holds royalty interest for The Standard Oil Company, BP Exploration Inc, The Bank of New York and F. James Hutchinson. The Trust distributes royalties on approximately 16 percent of the first 90,000 barrels of the average daily net production of oil and condensate per quarter from the company's working interest in the Prudhoe Bay Field. (source: Reuters Business Summary)

Why We Like It:
BPT has two things going for it. First and foremost is the rising demand for oil and crude oil prices. Second is the growing interest in dividend paying stocks. When asked where they planned to put their money to work in 2005 many fund managers said they were looking toward dividend paying equities. BPT should have a growing crowd of supporters with its 12.3 percent annual yield. The high-yield dividend and its bullish chart pattern make BPT look like a great relative strength play in the current market. We want to use a TRIGGER at $50.51 to go long and target a run towards the $55.00 region. Investors may actually want to consider this a longer-term holding considering the dividend payout and the strong possibility that rising oil prices are here to stay. FYI: The P&F chart has an ascending triple-top breakout buy signal with an $82 long-term target.

Annotated Chart:


Picked on January xx at $xx.xx <-- see TRIGGER
Gain since picked:      + 0.00
Earnings Date         00/00/00 (unconfirmed)
Average Daily Volume:      240 thousand

Link to Current Quote BPT   NEWS   Zacks on BPT

 

 

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