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Analyst: BP Will Pay Dividends

In response to lawmakers demands that BP suspend any plans to pay out shareholder dividends until full costs for cleaning up the massive Gulf of Mexico oil spill are calculated, CEO Ron Wyden said Thursday they will “fulfill shareholder obligations.”

Paul Sankey, a top-ranked oil analyst at Deutsche Bank, thinks BP will pay dividends. He tells us that the company missed its dividend in 1992. It was a very bad moment for the company, Sankey says and the current managers were young managers back then. They don’t want a repeat.

The spill, Sankey says, will have a major impact on global oil supply because fastest growing area of this sector was deepwater. He says the tar sands in Canada will enter the debate as another possibility for acquiring oil. For more of his insight on the spill, watch the video here.

Beyond BP, which energy stocks are buys in this energy bear market?

Buy ExxonMobil, which were short the deepwater drilling in the Gulf of Mexico. Sell Chevron, which is very long the super deepwater drilling, Sankey says.




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Trader disclosure: On June 3, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Kelly Owns (STD) Calls; Kelly Owns (IBM) Calls; Kelly Owns (NBG) Calls; Najarian Owns (C) Calls; Najarian Owns (HK) Call Spread; Najarian Owns (JEC) Call Spread; Najarian Owns (LCC) Calls Spread; Najarian Owns (NOVL) Calls; Najarian Owns (SD) Call Spread; Terranova Owns (RIG), (RSX), (TER), (AXP), (BMO), (BBY), (DIS), (XCO), (IPSU), (SWN), (AAPL), (APA), (UPL), (CVS), (IPI), (TEVA), (FXB), (GLD)

For JoeTerranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (DRYS)
Virtus Investment Partners Owns More Than 1% Of (ALK)
Virtus Investment Partners Owns More Than 1% Of (XLK)

For Brian Kelly
Kanundrum Capital Owns (APA)
Kanundrum Capital Owns (IBN)
Kanundrum Capital Owns (FCX)
Kanundrum Capital Owns (FXE)
Kanundrum Capital Owns (JOYG)
Kanundrum Capital Owns (TLT)
Kanundrum Capital Owns (GLD)
Kanundrum Capital Owns (STD)
Kanundrum Capital Owns (NBG)
Kanundrum Capital Owns (IBM)

For Brian Stutland
Stutland Equities Is A Market Maker In VIX And SPX Futures And Options
Stutland Equities Is A Market Maker In VXX Options
Stutland Is Long U.S. Treasuries

For Paul Sankey
(XOM), (CVX), (MUR), (HES), (MRO), (VLO) Is An Investment Banking Client Of Deutsche Bank Securities
Deutsche Bank And/Or Affiliate(s) Has Received Non-Investment Banking Compensation From (XOM), (CVX), (MUR), (HES), (MRO), (VLO) In Past Year
(XOM), (CVX), (HES), (MRO), (VLO) Has Been A Client Of Deutsche Bank Securities In Past Year (Non-Investment Banking Securities-Related Services)
Deutsche Bank And/Or Affiliates Owns 1% Or More Of (MUR), (HES), (MRO), (VLO)

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An Employee Of Citigorup Owns (WMT)
An Employee Of Citigroup Owns (JCP)
Citigroup Global Markets Or Affiliates Owns 1% Or More Of (SKS)
Citigroup Global Markets Or Affiliates Has Managed Or Co-Managed Offering Of (DG), (KR), (WMT) In Past 12 Months
Citigroup Global Markets Or Affiliates Has Received Investment Banking
Compensation For Services Provided In Past 12 Months From (DG), (KR),(SKS), (SVU), (TGT), (WMT)
Citigroup Global Markets Expects To Receive/Seek Investment Banking Compensation From (WMT) In Next 3 Months
Citigroup Global Markets Or Affiliate Received Non-Investment Banking Compensation From (HD), (JCP), (KSS), (KR), (M), (SWY), (SVU), (TGT), (WAG), (WMT), (COST) In Past 12 Months
(DG), (KR), (SKS), (SVU), (TGT), (WMT) Are Or In Past 12 Months Were Investment Banking Clients Of Citigroup Global Markets
(CVS), (DG), (HD), (JCP), (KSS), (KR), (M), (SWY), (SKS), (SVU), (TGT), (WAG), (WMT), (COST) Are Or In Past 12 Months Were Clients Of Citigroup Global Markets (Non-Investment Banking, Securities-Related Services)
(HD), (JCP), (KSS), (KR), (M), (SWY), (SVU), (TGT), (WAG), (WMT), (COST) Are Or In Past 12 Months Were Clients Of Citigroup Global Markets (Non-Investment-Banking, Non-Securities-Related Services)
Citigroup Global Markets Or Affiliate Received Compensation From (DG) In Past 12 Months
Citigroup Global Markets Is A Market Maker In (CVS), (M), (COST)
Citigroup Global Markets And/Or Affiliates Has A Significant Financial Interest In Relation To (HD), (JCP), (KR), (LOW), (M), (JWN), (SWY), (SVU), (TGT), (WMT), (COST)
Citigroup Global Markets Or Affiliates Owns 5% Or More Of (SKS)

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Biderman Is Short (AAPL)
Biderman Owns Gold
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