Bp Share Discussion Threads

[cfc1] 30/10/2014 20:48

AFC??? LOL! Never change the colours ....Im a season ticket holder too!

:-))

[prambigear] 30/10/2014 17:38

Aye cfc1 (by the way. cfc is a bit offensive to some of us..... couldn't you change to 'AFC'?) ;-)

[cfc1] 30/10/2014 17:13

PramBigear - wonder what total volume was like and buys/sells today?

Should be £5++ in my opinion all good news and this price reflecs low crude prices - that's it and crude will go up from here

[prambigear] 30/10/2014 16:20

It's quite clear that the share price 'wants to' increase. The pressure to do so seems to mount day by day.

[cfc1] 30/10/2014 14:34

strongly recovered? Its down 100P since July!! Way oversold with all analysts having targets at 5.20++++

[johnmfrancis] 30/10/2014 09:04

Yes I can see why those who follow charting systems are now interested as the price has strongly recovered recently. If you use the below or any reasonable charging package you will see we have just had a 6 day versus 20 day moving average crossover:

hxxp://www.livecharts.co.uk/share_prices/BP.-stock-chart-technical-analysis

[cfc1] 30/10/2014 08:07

just bought in at 4.47... feel this has only upside so big buy here.

[deanforester] 29/10/2014 23:21

This extends the arrangement until the shares go XD.

[robertfaulkner] 29/10/2014 20:43

What does above mean, for a few days shares will be bought by a third party to cancel them, rather than BP doing it, them selves ??????

[skinny] 29/10/2014 16:24

BP p.l.c. (the "Company") announces it has today entered into a repurchase mandate agreement with an independent third party following the expiry of the repurchase mandate agreement previously entered into and announced in respect of the period of 29 September 2014 to 28 October 2014.

Under the repurchase mandate agreement entered into today, the independent third party will manage the share repurchases for the period of 29 October 2014 to 7 November 2014.

The independent third party will make its trading decision in relation to the purchase of the Company's securities independently of, and uninfluenced by the Company. On purchase, the Company's shares will be cancelled.

The purpose of the share repurchases is to reduce the Company's issued share capital.

Any purchases will be effected within certain pre-set parameters and in accordance with the Company's general authority to repurchase shares granted by its shareholders at the Company's 2014 Annual General Meeting and Chapter 12 of the Listing Rules.

[dov] 29/10/2014 14:44

so that they can fall all the way back!!

[tfergi] 29/10/2014 14:39

Why the jump up ?

[skinny] 29/10/2014 07:08

Jefferies International Buy 0.00 - 540.00 Reiterates

Deutsche Bank Hold 0.00 550.00 550.00 Reiterates

Barclays Capital Equal weight 437.78 600.00 600.00 Reiterates

Citigroup Buy 437.78 510.00 510.00 Reiterates

[prambigear] 28/10/2014 16:59

#84990 Whatever will happen is years away. BP are appealing.

[cfc1] 28/10/2014 14:37

thanks Alphahunter. I guess the big question is what will happen with the $28B fine that the US judge is trying to slap on BP?

[mbthedude] 28/10/2014 11:44

Sorry skinny

I skimmed through and didn't see it and a word search hadn't turned it up either

[1gw] 28/10/2014 11:21

Better than I expected I have to admit. Good ops cash performance in 3Q and no obvious nerves about the full year target. I find it curious that they have not taken any additional charge relating to the gross negligence finding - see if Gilvary gets any pressure on that in the call.

[skinny] 28/10/2014 11:20

mbthedude - I don't think I did!

JP Morgan Cazenove Overweight 432.63 - - Reiterates

Liberum Capital Hold 432.63 485.00 485.00 Retains

[alphahunter] 28/10/2014 10:53

In line in exploration.
Beat in downstream/trading.

Hence muted initial reaction in the shareprice I would say

[mbthedude] 28/10/2014 10:47

You missed out one of the most important pieces of information

Dividend is 10c per share

[skinny] 28/10/2014 07:05

BP today reported its financial results for the third quarter of 2014. Underlying replacement cost profit1 for the quarter was $3.0 billion, compared with $3.7 billion for the same period in 2013. Operating cash flow for the quarter was $9.4 billion, compared with $6.3 billion in 3Q 2013. Total operating cash flow for the first nine months of 2014 was $25.5 billion.

"BP's operational momentum continues to deliver results," said Bob Dudley, BP Group Chief Executive. "Growing underlying production of oil and gas and a good downstream performance generated strong cash flow in the third quarter, despite lower oil prices. This keeps us well on track to hit our targets for 2014."

Reflecting confidence in delivering its 2014 operating cash flow targets and the robustness of its financial framework in a weaker oil price environment, BP announced a quarterly dividend of 10 cents per ordinary share, a 5.3% year-on-year increase. It is expected to be paid in December.

BP has continued its programme of share buy-backs and $10 billion has now been used to buy back shares for cancellation since March 2013. Divestments with a cumulative value of $4 billion have now been agreed towards a total of $10 billion expected by the end of 2015.

Organic capital expenditure in the first nine months of 2014 was $16.3 billion and BP now expects organic capital expenditure for the full year to be around $23 billion, compared with previous guidance of $24-25 billion. At the end of the third quarter BP's net debt was equivalent to a gearing level of 15.0%, within the company's target range of 10% to 20%.

"We are maintaining our strong financial framework, with both a conservative level of gearing and a strictly disciplined approach to investment," commented Brian Gilvary, BP Chief Financial Officer. "This provides resilience through periods of oil market volatility."

BP's Upstream segment reported underlying pre-tax replacement cost profit of $3.9 billion for 3Q 2014, compared with $4.4 billion a year earlier. This result reflected the negative impacts of lower oil prices, partly offset by higher gas prices and increased production from key higher-margin regions.

BP's total reported oil and gas production for the quarter averaged 3.1 million barrels of oil equivalent a day (mmboed). Excluding Russia, underlying oil and gas production2 grew strongly, by 4.1% compared with the third quarter of 2013. Reported production excluding Russia was 2.1 mmboed, 2.7% lower than the third quarter of 2013 due primarily to the expiry of an Abu Dhabi concession in January 2014.

BP reported underlying net income from Rosneft for the quarter of $110 million compared with $808 million a year earlier 3. The depreciation of the rouble against the dollar over the period had a significant impact on the result, together with lower Urals oil prices and associated duty tax lag effects.

The Downstream segment reported underlying pre-tax replacement cost profit for the quarter of $1.5 billion compared with $0.7 billion a year earlier. The improvement was driven by a stronger refining environment as well as an increased contribution from supply and trading activities.

In exploration, three oil discoveries have been made since mid-year: Vorlich in the central UK North Sea, Xerelete in Brazil's Campos basin, and Guadalupe in the deepwater US Gulf of Mexico.

"These three discoveries come after successful wells in Angola and Egypt earlier in the year. This builds on 2013, our best year for exploration drilling in a decade, and demonstrates our success in rebuilding the momentum of our exploration programme," said Dudley.

The start-up of the Kinnoull project in the UK North Sea is now in progress - the sixth major upstream project start-up in 2014. The Sunrise project in Canada is also scheduled to begin operations before the end of the year. In addition, production at the Rhum gas field in the UK North Sea has recommenced following implementation of a temporary management scheme with the UK government.

The total cumulative pre-tax charge for the Gulf of Mexico oil spill remained at $43 billion at the end of the quarter 4.

In September 2014, the district court in New Orleans ruled that, under the US Clean Water Act (CWA), the discharge of oil was the result of gross negligence and wilful misconduct by BP Exploration & Production Inc. (BPXP) and that BPXP is therefore subject to enhanced civil penalties. BP intends to appeal this ruling 5.

During the quarter, increased costs for claims administration, natural resource damage assessment and business economic loss claims eliminated the remaining unallocated headroom in the $20 billion trust. Subsequent costs over and above that provided within the trust will be charged to the income statement; $25 million was charged in the third quarter. The aggregate remaining cash balance in the trust and qualified settlement funds at the end of the quarter was $6.0 billion.

[alphahunter] 24/10/2014 17:48

CFC1,

It's not just BP but the whole sector that is under pressure.

Personnally I took an helicopter view and shorted the ADR stock on the basis of cost of Brent/WTI - in addition to a bearish view on a strategically challenged company.
Yes, the Brent might bounce - November next OPEC meeting in mind - but given that coal, iron ore, precious metal, NatGas and soft commodities have all come down in $-based prices, I don;t see that happening overnight (next assets might be over inflated house prices). On the slightly positive side is that Refining is doing well at the moment (until products catch with Brent), they operated mostly in low-barrel cost environment and, hmmm,...
Analyst haven;t cut their forecast yet - just waiting to adjust their spreadsheet to the new oil price level.


Off the press:
FRANKFURT--The following is a summary of analysts' forecasts for BP plc (BP) third-quarter results, based on a poll of 10 analysts conducted by Dow Jones Newswires (figures in million dollars, EPS and DPS in cents, target price in pence, production in kboe/d, according to IFRS). Earnings figures are scheduled to be released October 28.

===
RC net
RC oper. attrib. Production EPS
3rd Quarter profit(a) profit(a) (kboe/d) (a)
AVERAGE 4,877 2,812 2,188 15.6
Prev. Year 5,829 3,692 2,207 19.6
+/- in % -16 -24 -0.9 -20

MEDIAN 4,863 2,821 2,071 16.1
Maximum 5,181 3,005 3,064 16.4
Minimum 4,389 2,489 1,996 13.6
Amount 8 10 8 6

Bernstein 4,793 2,725 2,077 --
Citigroup -- 2,890 -- 16.0
Credit Suisse 5,071 2,768 2,062 15.1
Deutsche Bank 5,181 2,918 2,073 16.1
J.P. Morgan 4,900 3,005 2,106 16.3
Morgan Stanley 4,811 2,855 3,064 --
Natixis 4,825 2,687 2,053 --
Nomura -- 2,786 -- --
Oppenheimer 5,048 2,992 2,069 16.4
Santander 4,389 2,489 1,996 13.6


Exploration & Refining &
3rd Quarter Production Marketing
AVERAGE 3,959 1,243
Prev. Year 4,423 720
+/- in % -10 +73

MEDIAN 3,945 1,234
Maximum 4,153 1,408
Minimum 3,599 1,059
Amount 7 7

Bernstein 4,068 1,059
Citigroup -- --
Credit Suisse 4,153 1,408
Deutsche Bank 3,927 1,371
J.P. Morgan 3,945 1,195
Morgan Stanley -- --
Natixis 4,094 1,234
Nomura -- --
Oppenheimer 3,928 1,334
Santander 3,599 1,099


Target price Rating DPS 2014

AVERAGE 511 positive 4 AVERAGE 39.6
Prev. Quarter 553 neutral 5 Prev. Year 36.5
+/- in % -7.6 negative 0 +/- in % +8.6

MEDIAN 509 MEDIAN 39.8
Maximum 575 Maximum 40.0
Minimum 460 Minimum 39.0
Amount 8 Amount 4

Citigroup 510 Buy 39.0
Credit Suisse 470 Neutral 39.5
Deutsche Bank 550 Hold 40.0
J.P. Morgan 575 Overweight 40.0
Natixis 508 Neutral --
Nomura 490 Neutral --
Oppenheimer -- Outperform --
Santander 525 Buy --
Societe Generale 460 Hold --

[cfc1] 24/10/2014 13:44

yep - this is not the same thread I was on a few months back.

Anyway - analysts all rate BP a buy or hold ...no sells so price drops 100p and still no real buying. Is it the $18B fine? I doubt that will be the amount and would have thought then city would have same view and hence expected BP to be running back up ahead of earnings next week.

Would be good to hear from experienced BPshareholders ?????

[alphahunter] 24/10/2014 09:16

Filtering, one of the most underrated functions of ADVFN...

[gutterhead] 23/10/2014 22:45

Ruined thread