BP stock ignored for too long, time to buy, Barron’s says

BP is getting back to doing what it does best-and that’s good news for its beaten-down stock, with the company refocusing on its oil-and-gas business, Andrew Bary writes in this week’s edition of Barron’s. The market hasn’t noticed quite yet. The company’s U.S-listed shares trade around $34 after hitting a new 52-week low this past week. They fetch just seven times projected 2024 earnings of $5 a share, cheap even for big European energy companies, the author notes. There are a lot of things that could go right at BP, and not a lot is factored into a depressed stock with a pretty secure 5% dividend yield. It’s a low-risk way to play the future of oil-and perhaps a lot more, the publication adds.