3 Energy Stock Stories to Spark Weekend Investment Chatter

BP (NYSE:BP): Closing price $42.20

On Friday, New York City revealed that it has sued BP for over $39 million of losses it claims that beneficiaries of the city’s pension funds sustained because of the oil major’s “misconduct and fraudulent behavior” connected with the 2010 Deepwater Horizon oil spill. Comptroller John Liu said that ”BP failed to disclose to shareowners the serious risks involved in its offshore drilling operation. After the spill began, it misleadingly attempted to minimize the extent of the damage and the cost to shareowners.”

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BP

Transocean (NYSE:RIG): Closing price $51.16

The proxy advisory service Institutional Shareholder Services has recommended to Transocean shareholders that they vote to approve two of three board candidates proposed by the activist shareholder Carl Icahn, in a report that the offshore-oil driller has sharply criticized. What is more, ISS suggested that shareholders vote against Transocean Chairman J. Michael Talbert and Robert Sprague, remarking that holders may wish to hold the longtime member Talbert responsible for the performance of the firm, according to a statement from Icahn.

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RIG

Total (NYSE:TOT): Closing price $48.88

The French oil major’s board has cleared a first-quarter 2013 interim dividend of 0.59 euros per share, which is unchanged from the previous quarter, and payable in euros on September 27 to stockholders of record as of September 26.

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TOT

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