BP Purchase @ $36

Common Cents purchased shares of BP at $36.00 on a gradual decline related to the falling price of oil.  Based on oil supply reports, oil is currently in a glut, which is causing the price to continually decline.  The low oil prices will hurt BP's earnings; however, BP management has indicated its commitment to maintaining the dividend through debt, planned asset sales, and lowering capex.  The dividend yield at this purchase price is currently 6.66%.  This purchase increases BP above its target allocation in the Common Cents portfolio; therefore, this purchase will likely be sold if the share price reaches near $40 in the near future.