Seeking Alpha: BP May Be Cheap, But There's A Lot Of Work Left To Do

It wasn't all that long after the Macondo disaster that investors began speculating as to whether BP (BP) shares had been punished too much and represented a good long-term bargain. While the shares certainly are considerably higher than their worst levels of the disaster, the stock has been range-bound for the better part of 18 months. Although BP does look cheap relative to other major oil and gas names, management is going to have to start executing better for that valuation gap to shrink.

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BP May Be Cheap, But There's A Lot Of Work Left To Do