Bp Share Discussion Threads

[waldron] 02/5/2019 16:32

FTSE 100
7,351.31 -0.46%
Dow Jones
26,192.17 -0.90%
CAC 40
5,538.86 -0.85%

Brent Crude Oil NYMEX 69.98 -3.05%
Gasoline NYMEX 2.01 -2.86%
Natural Gas NYMEX 2.57 -1.91%


(WTI) - 02/05 18:05:58
61.2 USD -3.55%


Eni
15.034 -1.21%



Total
49.38 -0.33%

Engie
13.21 +0.04%

Orange
14.105 +1.00%


BP
547.5 -0.82%


Shell A
2,453.5 +1.66%


Shell B
2,475 +1.89%

[optomistic] 02/5/2019 15:52

Brent falling is not helping today, we could be 'ticking over' for a while now. Had hoped for better after the results...but what's another disappointment :-/

[hellscream] 02/5/2019 15:26

two lost decades of share investing.. cant blame brexit for that. how many uk shares are above levels 20 years ago? what was the price of a house 20 years ago..

[wolansm] 02/5/2019 10:10

Prob just needs some cash, everybody has to cash in at some point, new house maybe

[the grumpy old men] 02/5/2019 09:33

RBC Capital Markets Outperform 615.00 - Reiterates
Societe Generale Buy 635.00 Reiterates
Berenberg Buy 620.00 - Reiterates

[the grumpy old men] 02/5/2019 07:07

. Berenberg Buy 620.00 Reiterates

[la forge] 01/5/2019 17:15

Iain Gilbert
Sharecast News
01 May, 2019 16:42
Broker tips: BT, Burford Capital, BP, Ferrexpo, Just Eat
bt, openreach, cable, broadband, internet

Morgan Stanley has highlighted a range of strategies BT’s newly installed chief executive could unveil next week, including spinning out Openreach, but has warned there is a real chance that there will be no significant changes to the strategy announced at the full-year results.

Morgan Stanley said there was a 15% chance that Jansen could adopt a bullish stance at the results and announce a range of wide-reaching measures aimed at shaking up BT's long-term strategy. Possibilities include significantly reducing headcount, selling non-core, lower-margin assets, or separating out the fixed line network business Openreach.

“We think network separation would be most well received,” the analysts noted. “New opex targets and/or disposal of non-core assets could also be met favourably, albeit to a smaller degree.”

They argued BT's shares could improve by as much as 12% in this situation, noting: “BT's shares have been among the worst performers in telecoms, with the total return down 3% in the year-to-date and 39% in three years, suggesting that a different strategy from here could be preferable.”

Morgan Stanley said a more bullish approach could include announcing plans to cut the dividend or increase capex from £3.7bn currently to around £4.5bn, to funder higher fibre investments, which would weigh on the shares.

“We would expect to see selling pressure from dividend investors, but do not anticipate the shares to fall by as much as the near-term free cash flow downgrade,” the bank said. “Higher near-term capex could drive longer-term profitability and, ultimately, a more favourable relationship with the regulator Ofcom.”

However, Morgan Stanley, which has an 'equal-weight' rating on BT and a price target of 250p, said the most likely outcome was that there would be “no major deviations in strategy” at the results, which would be met with "modest disappointment". The focus instead would be on free cash flow and dividend; it is forecasting FCF for the 2020 of £2.1bn, down from £2.4bn in 2019, “reflecting headwinds in Consumer and Openreach”. It sees the dividend held flat year-on-year at 15.4p.

Analysts at Canaccord Genuity slashed their target price on shares of stockmarket darling Burford Capital, flagging 20 areas of risk/concern to clients which they believed might be going unappreciated.

The target price was cut from 1,543p to 1,196p and the recommendation was kept at 'sell'.

Among other things, the Canadian broker saw a risk that the provider of arbitration and litigation finance might be forced to either pursue a new fundraising or cut back on lending should realisations fail to materialise at the level it was forecasting.

They also challenged the company's claim to an 85% return on invested capital on concluded & partially realised investments, saying that their own analysis revealed a ROIC of 51% on those that had been concluded and of 36% for those that were partially realised.

Hence, they cut their earnings per share estimates for the firm's financial years 2019 and 2020 by approximately 18% each one but for 2019 they were still anticipating adjusted profits before tax would more than double, excluding fair-value movements.

They were also careful to explain that "For the avoidance of doubt, we see real opportunity for investors in the growth of the litigation funding market."

"Equally, we also believe BUR has built an impressive, market-leading position and is generating attractive returns."

Analysts at Jefferies reiterated their 'buy' recommendation and 600p target price for oil giant BP's shares on Wednesday, pointing to the potential for the company to lower its gearing and highlighting the success of its downstream activities.

The company's balance sheet was still "stretched and under pressure", with gearing above 30%, but as divestiture proceeds came in that could be reduced to the mid-20% level, Jefferies said.

The analysts also called attention to BP's big beat in Downstream, thanks to a "strong contribution" from trading, which drove results that came in 14% ahead of consensus and 21% above their own estimates.

Among the potential catalysts for share price gains, Jefferies cited share buybacks to fully offset the dilution from its script dividends in the third quarter of 2017, which management had pencilled-in for completion by year end 2019.

Also cited as potential drivers of the share price were asset divestitures to fund its liabilities from the Macondo oil spill and the acquisition of BHP's acreage in the Permian.

[waldron] 01/5/2019 16:10

FTSE 100
7,385.26 -0.44%
Dow Jones
26,682.33 +0.34%
CAC 40
5,586.41 +0.0% CLOSED FOR MAY 1st

Brent Crude Oil NYMEX 71.74 -0.44%
Gasoline NYMEX 2.05 -0.58%
Natural Gas NYMEX 2.62 +1.79%

(WTI) - 01/05 17:46:47
63.14 USD -0.60%

Eni
15.218 +0.0%


Total
49.545 +0.0%

Engie
13.205 +0.0%

Orange
13.965 -0.0%

BP
552 -1.25%


Shell A
2,413.5 -1.49%


Shell B
2,429 -1.44%

[maywillow] 01/5/2019 14:38

Trump could deal the oil market a major wildcard this week, says BP CEO Bob Dudley
Published an hour ago
Tom DiChristopher
@tdichristopher




Key Points

Oil prices spiked to nearly six-month highs last week because President Donald Trump is tightening sanctions on Iran, says BP CEO Bob Dudley.
Whether or not he follows through on the policy is the key wildcard for oil prices right now, according to Dudley.
Dudley says oil prices crashed last fall in large part because Trump backed off his tough stance on Iran.

[maywillow] 01/5/2019 14:36

Alexander Bueso
Sharecast News
01 May, 2019 13:19
Jefferies sticks to 'buy' on BP, says gearing can come down
ep explotacion petroleramar
Oil platform at seaPIXABAY

Analysts at Jefferies reiterated their 'buy' recommendation and 600p target price for oil giant BP's shares on Wednesday, pointing to the potential for the company to lower its gearing and highlighting the success of its downstream activities.
BP
552.10
15:19:09 01/05/19

[the grumpy old men] 01/5/2019 08:44

BP PLC BP. Deutsche Bank Buy 615.00 - Reiterates

BP PLC BP. UBS Buy 600.00 - Unchanged


BP PLC BP. RBC Capital Markets Outperform 615.00 Reiterates

[waldron] 30/4/2019 16:14

FTSE 100
7,418.22 -0.30%
Dow Jones
26,520.8 -0.13%
CAC 40
5,586.41 +0.10%

Brent Crude Oil NYMEX 72.39 +1.19%
Gasoline NYMEX 2.07 +2.04%
Natural Gas NYMEX 2.60 +0.08%


(WTI) - 30/04 17:54:17
64.03 USD +0.80%





Eni
15.218 +0.79%


Total
49.545 +1.95%

Engie
13.205 +1.38%

Orange
13.965 -2.92%


BP
559 +1.18%


Shell A
2,450 +0.82%


Shell B
2,464.5 +0.63%

[adrian j boris] 30/4/2019 13:40

BP Still Undervalued, say Analysts
Morningstar analysts leave fair value estimate for FTSE 100 oil giant unchanged after a fall in upstream and downstream profits due to weaker oil prices
Allen Good
30 April, 2019 | 2:19PM

BP

BP’s (BP.) first-quarter earnings largely met Morningstar analyst expectations while key guidance items remain unchanged. As a result, our fair value estimate of 670p remains unchanged, above the current price of 560p. Profits fell to $2.4 billion from $2.6 billion a year ago. Upstream profits fell to $2.9 billion from $3.2 billion last year on lower oil prices and turnaround activity in the Gulf of Mexico offset by strong gas marketing and trading.

BP retains a four-star rating from Morningstar, meaning that is currently below its fair value estimate.

Production volumes increased 2% from last year, but underlying production – adjusted acquisitions and entitlement impacts – fell 1.9% due to the aforementioned turnarounds and severe weather impacts on the Lower 48 unconventional business, BPX. Growth should remain relatively weak in the second quarter as a result of ongoing seasonal maintenance. Long term, however, the contribution of BP's major projects in ramp-up phase and under construction should drive volumes higher, delivering a 5% compound annual growth rate through 2021.

Downstream profits fell to $1.7 billion from $1.8 billion last year. In the fuels business, weak refining results due largely to narrower crude differentials were offset by growth in fuels marketing earnings from continued expansion in new markets. Lubricants earnings fell but were largely offset by improved petrochemical results. Rosneft earnings increased to $567 million from $247 million last year as foreign-exchange effects were partially offset by lower oil prices.

Operating cash flow excluding Gulf of Mexico payments increased to $5.9 billion from $5.4 billion the year before. Share repurchases during the quarter were minimal, but BP reiterated its intention to repurchase shares issued as part of scrip dividend since the third quarter of 2017 by year-end, which would imply about $1.5 billion. Gearing also remains relatively high at 30.4%. However, cash flow generation should improve through the remainder of the year – higher oil prices, improved downstream results – while asset sales should accelerate as well.

As such, we expect BP to have ample funds to execute its repurchase plan and reduce leverage.

[adrian j boris] 30/4/2019 08:41

LONDON-- BP PLC said Tuesday its profit dropped by 12% in the first quarter due to a weaker oil price environment at the start of 2019, echoing anemic quarterly results recently reported by other Big Oil companies.

U.K.-based BP said its replacement cost profit--a number analogous to the net income that U.S. oil companies report--was $2.1 billion for the quarter ended March 31, compared with $2.39 billion during the same period last year.

Stripping out one-off items, its underlying replacement cost profit, BP's preferred metric, fell 8.8% to $2.4 billion. That was slightly ahead of a company-compiled broker forecast that had predicted an underlying replacement cost profit of $2.3 billion for the first quarter.

BP's shares were up 0.8% in early trading in London.

The company's results come as the world's other major oil-and-gas companies have reported underwhelming first-quarter earnings. U.S.-based Exxon Mobil Corp. and Chevron Corp., along with France's Total SA, all reported profit declines for the first quarter. Dutch-Anglo oil giant Royal Dutch Shell PLC is set to report later this week.

The first quarter started with weaker oil prices than the year prior, with Brent--the global oil benchmark--averaging $63 a barrel, compared with $67 a barrel in the first quarter of 2018.

Oil prices plummeted by around 40% in the fourth quarter of last year on the back of a burgeoning global supply glut. But prices have staged a recovery since the start of the year--with Brent climbing back more than 30%--amid renewed geopolitical risks to supply and production cuts led by the Organization of the Petroleum Exporting Countries.

"We produced resilient earnings and cash flow through a volatile period that began with weak market conditions and included significant turnarounds," BP Chief Executive Bob Dudley said in a statement. He added that the company remained committed to capital discipline and efficient project execution.

The company said it was continuing to integrate the near $11 billion of U.S. onshore oil-and-gas assets acquired from BHP Billiton Ltd. last year. BP took control of the assets in March.

BP said its upstream oil production rose 2% year-over-year, to 2.7 million barrels a day, aided by the BHP acquisition. The company has also started production at three new upstream projects, in Trinidad, Egypt and the Gulf of Mexico.

BP has been getting closer to its target of returning to production levels last seen before the company's Deepwater Horizon oil spill in the Gulf of Mexico nearly nine years ago. BP said payments related to the 2010 disaster--the worst offshore oil spill in U.S. history--amounted to $600 million in the first quarter. The company's landmark $20 billion settlement with the U.S. government in 2015 requires the oil giant to make annual payments of around $1 billion through the end of the next decade.

BP on Tuesday raised its quarterly dividend for shareholders to 10.25 cents a share, up 2.5% year-over-year but in line with recent quarters.

Write to Christopher Alessi at [e-mail]



(END) Dow Jones Newswires

April 30, 2019 04:10 ET (08:10 GMT)

[ariane] 30/4/2019 06:47

RBC Capital Markets Outperform 625.00 - Reiterates

[t-trader] 30/4/2019 06:35

Oil was below $60 at the start of the quarter and as high as $85 during the last quarter, so on that basis results appear OK

[skinny] 30/4/2019 06:30

Highlights

Resilient earnings and cash flow, continued strategic progress

• Earnings and cash flow

- Underlying replacement cost profit for the first quarter of 2019 was $2.4 billion, compared to $2.6 billion a year earlier. The result reflected the weaker price and margin environment at the start of the quarter, partially offset by strong supply and trading results.

- Operating cash flow, excluding Gulf of Mexico oil spill payments, for the quarter was $5.9 billion, including a $1.0-billion working capital build (after adjusting for inventory holding gains). Gulf of Mexico oil spill payments in the quarter were $0.6 billion.

- Dividend of 10.25 cents a share announced for the quarter, 2.5% higher than a year earlier.

• New projects and marketing growth

- Reported oil and gas production for the quarter averaged 3.8 million barrels a day of oil equivalent. Upstream production, which excludes Rosneft, was 2% higher than a year earlier. BP-operated Upstream plant reliability was 96.2%.

- Integration of US onshore assets acquired from BHP continues, with BP taking operational control in March.

- Three Upstream major projects - in Trinidad, Egypt and the Gulf of Mexico - have started production in 2019 and BP has taken final investment decisions for three more Upstream major projects.

- Downstream continued growth in fuels marketing reflected increased numbers of convenience partnership sites and expansion in new markets.

• Advancing low carbon

- Strong progress is being made towards BP's published targets for operational greenhouse gas (GHG) emissions, with reduced operational GHG emissions in 2018, good delivery of sustainable GHG emissions reductions, and methane intensity remaining on target.

- A $100-million fund to support new emissions-reducing projects in the Upstream was announced, as well as an agreement with Environmental Defense Fund to advance technologies and practices to reduce oil and gas industry methane emissions.

[tfergi] 30/4/2019 06:26

I didn't think oil prices were that bad in the first period. A little disappointing?