Bp Share Discussion Threads

[fhmktg] 02/11/2017 12:35

Google NASDQ and Brent to get update

[malcontent] 02/11/2017 11:02

520 has been key resistance for years

I hold a fair few- re-invest the generous dividend and that pays me to wait - if we break properly above 520p , will add - problem is when to sell - probably keep them until I retire.....

[alphorn] 02/11/2017 10:57

Opened a smallish call option (bearish) this morning - remain net long though.

[lance corporal winstanley ash] 02/11/2017 07:16

Anyone tell me the ticker for Brent crude on advfn please?

[skinny] 01/11/2017 16:17

Citigroup Neutral 514.55 425.00 480.00 Retains

JP Morgan Cazenove Overweight 514.55 540.00 540.00 Reiterates

Kepler Cheuvreux Hold 514.55 485.00 505.00 Reiterates

Jefferies International Hold 514.55 500.00 500.00 Reiterates

Deutsche Bank Buy 514.55 520.00 545.00 Reiterates

Beaufort Securities Buy 514.55 - 560.00 Retains

[maywillow] 01/11/2017 14:52

PLEASE CEASE GIVING THUMBS DOWN TO EACH POST WITHOUT REASON

some posts you might not like so post some reasons

RED THUMB IS FOR SERIOUS OFFENDERS

Give it a thought

YOU KNOW IT MAKES SENSE

[ariane] 01/11/2017 11:48

BP Signals Optimism With New Buybacks -- WSJ
01/11/2017 7:02am
Dow Jones News

Total (EU:FP)
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Today : Wednesday 1 November 2017
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By Sarah Kent

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (November 1, 2017).

LONDON -- BP PLC on Tuesday said it would restart its share buyback program after posting healthy third-quarter earnings, the latest signal that the oil industry has found its footing amid a modest crude-price recovery.

The U.K. oil giant said its strengthened financial position allowed it to begin a share repurchase program in the final three months of 2017, though it didn't put a value on future buybacks. With Brent crude, the international benchmark, trending over $60 a barrel for the first time since 2015, BP's move ranks among the first actions showing big oil companies are healthy enough to sweeten the pot for investors who had soured on the sector.

BP hasn't had a share buyback program since oil prices crashed in 2014, falling from over $114 a barrel to less than $28 a barrel in early 2016. Other companies like Exxon Mobil Corp. and Chevron Corp. have also moved away from the practice while they grappled with the oil-price slump.

BP said it could restart buybacks because it had driven its costs so low that it can generate enough cash to cover its spending commitments and dividend at $49 a barrel. Investors are increasingly looking at this break-even metric for signs big oil companies have succeeded in shifting their financial frameworks to operate profitably at lower oil prices.

"We're confident we can balance the books at $50 next year, and even manage as low as $45. That's what gave us the confidence to raise the idea of buybacks with the board," Chief Financial Officer Brian Gilvary said in an interview.

Overall, BP's replacement cost profit -- a number similar to the net income that U.S. companies report -- was $1.4 billion in the third quarter, down slightly from $1.7 billion in the same period a year earlier. But its underlying financials were strong, sending its intraday share price to highs not seen since three years ago, when oil prices were over $100 a barrel. BP shares closed up 1.7% Tuesday in London.

The company's refineries reported their highest underlying earnings in five years, its exploration and production unit returned to profit, and the company's oil and gas output surged 14% in the third quarter.

BP is the latest major Western oil company to report profitable results for the third quarter. Last week, Exxon and Chevron both reported increases in third-quarter profits of 50% compared with the prior year. French oil company Total SA's earnings jumped 40%. Royal Dutch Shell PLC will report earnings on Thursday.

BP's production rose year-over-year to 3.6 million barrels a day in the quarter, as new projects in Australia, Trinidad and Oman began production -- the latest in a series of developments expected to start up by 2020 that will bring the company's production back up to levels last seen before its fatal blowout in the Gulf of Mexico in 2010.

BP is still working to move past the disaster, with the final tab growing past $60 billion. But with most of those payments now made, the company has signaled it is ready to grow again and is able to do so, even in a low oil-price environment.

Investors have been wary of big oil companies in recent years, concerned they couldn't generate enough cash to cover big dividends.

The move "is an important signal on the confidence of the board and management on cash flow," Barclays said in a note on Tuesday.

Share buybacks are popular with investors because they reduce the amount of company stock in circulation and tend to boost share value.

For BP, the buybacks help offset perceived weakness in its dividend. The company uses a so-called scrip dividend program, giving shareholders the option to take their dividend in stock and alleviating the cash burden of dividends.

Such programs proved helpful to oil companies during the downturn, but they also dilute the value of shareholdings. Investors are increasingly eager to see companies fully cover their dividends with cash.

So far Norway's Statoil ASA is the only major oil company to announce plans to halt the scrip program altogether, and BP remains among the first to take steps to offset dilution. Mr. Gilvary said BP had discussed the possibility of removing the scrip program altogether with its board, but concluded some investors liked the option.

Write to Sarah Kent at [e-mail]



(END) Dow Jones Newswires

November 01, 2017 02:47 ET (06:47 GMT)

[bracke] 01/11/2017 11:30

Good day optomistic

You will have noted that yesterdays gap was filled and a high volume day.

Today it is still being resisted at 520. Buying volume required to push it over and keep it over resistance.

[geoff27] 01/11/2017 09:10

Nice to read your posts about Miata. Thank you all.

smurfy, in answer to your question, 63 I think.

[prambigear] 31/10/2017 18:53

RIP Miata (I too appreciated his sage posts)

[smurfy2001] 31/10/2017 18:24

Very sad to hear about Miata :( Was a very helpful chap on the boards. RIP.

@geoff27 how old was he?

[penycae] 31/10/2017 13:24

Afternoon all. Really sad to hear the news about Miata. Took many a gentle ribbing from him in the early days. He knew his stuff, and was an informative poster always willing to share.
A few days ago,I was on another thread which he had created, and someone complained that he no longer bothered to moderate it. It was then posted that he had suffered a heart attack, which someone believed might have been fatal. That's the reason I brought it up this morning.
RIP Miata.

[optomistic] 31/10/2017 11:37

Thank you geoff27, very sad.

[bracke] 31/10/2017 10:41

Good day optomistic

"a breakaway or a runaway gap"
+++++++++++++++++++++++++++++++

I'm not convinced it's either.

Looking at Skinny's chart you will note it did not break above the major high at 520. It may retrace slightly but it then needs to push on with volume otherwise a gap fill is likely.

Sorry to read about Miata.


Good day Penycae

Perhaps best to 'forget' to tell Mrs P. I'm sure you can put the proceeds to far better use.

[geoff27] 31/10/2017 10:38

I'm an infrequent visitor to this site but just chanced across your post. I'm sorry to tell you that Miata did not recover and died about 3 years ago. I had known him many years and he was an immensely knowledgeable and experienced investor. Sad loss.

[optomistic] 31/10/2017 09:49

Areed Penycae,
Miata was a very knowledgeable and helpful poster and I'm sure we all hope that his heart attack was not terminal.
Perhaps his wife or friends would let us know the situation.

[penycae] 31/10/2017 09:36

Me again - of topic. I read on another thread that Miata, who used to post on here, had suffered a heart attack, which might actually have been fatal. I really hope that isn't the case. Anybody got any news?
A really knowledgeable poster, with no axe to grind. Hope he's OK.

[penycae] 31/10/2017 09:32

Morning all!
Never expected that. Mrs. P will be over the moon (if I tell her!)
Got to see the Dentist on Friday. Discussing one or two cosmetic procedures which would otherwise have been quite expensive. Might just have a few implants on BP.
The new hound has worked out how the breakfast bar operates. Bacon sarnie and a glass of Krug on the good days.
Been trading PFC, EZJ and PFG of late, using the sb account. Any profits earned going into the paper.

Trade well and prosper Earthlings.........

[optomistic] 31/10/2017 09:23

Yup I reckon Penycae's hound will get spoilt this morning.

[sicker] 31/10/2017 08:45

It will be bacon sannies all round and 2 for the dog :-)

[ariane] 31/10/2017 08:45

Bloomberg News

31 October 2017 • 8:28am

BP has signalled growing confidence that the oil industry downturn is coming to an end by starting to buy back shares issued to partially cover its dividend during the price slump.

Expectations for the London-based company’s earnings were already high after strong results from most of its peers last week. The resumption of share buybacks, announced alongside third-quarter profit that beat estimates as production and cash flow jumped, underscored the industry’s improving fortunes.

“We have made strong progress this year in adjusting to the lower oil price environment,” chief financial officer Brian Gilvary said. “Given the momentum we see across our businesses and our confidence in the outlook for the group’s finances, we will be recommencing a share buyback programme.”

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Shares of the company gained the most since March, rising as much as 4.1pc to 522.2p before trading at 519.2p at the open.
PUBLICITÉ

Operating cash flow, excluding payments related to the 2010 Gulf of Mexico oil spill, exceeded the company’s organic capital expenditure and dividend for the first nine months of the year. That is a significant milestone for a company that piled on $17bn (£12.9bn) of debt to cover spending during the price slump.

BP also used new shares to make a portion of payouts to investors during the period, and the buyback is intended to offset the dilutive effect of this.

Profit adjusted for one-time items and inventory changes was $1.87bn (£1.41bn), almost double the $933m posted a year earlier, the company said. That surpassed the $1.58bn average estimate of 12 analysts surveyed by Bloomberg.

With Brent crude, the international benchmark, rising above $60 a barrel last week for the first time since July 2015, the world’s biggest energy companies have signalled a return to growth. Total SA posted the highest profit from pumping oil and gas in more than two years, followed by consensus-beating earnings from Chevron and Exxon Mobil - with the latter posting a 50pc jump in net income.

BP’s oil and gas production averaged 3.6 million barrels of oil equivalent a day in the third quarter, an increase of 14pc from a year earlier due to the start of major projects in Australia, Trinidad and Oman.