Bp Share Discussion Threads

[gwatson56] 14/2/2023 21:41

Well done adg, I added yesterday AM, small amount though as the buybacks are not happening as I would expect and part of me thinks summit is afoot. Still I will have to off load some soon as the CG will expire end of tax year and with Hunt slashing by 50% I need like most have to take the gain allowed. See that Barclays re iterated £10 today, a bit to high for me in the next year but I do think high 600's this year. We have the Saudi's reducing output (under producing) but not declaring and Russia reducing by 500K 1st March. Given that 20% of Russia's output has the rig pressure to re-open without impacting the integrity of the reservoir then Putin has at least another 1 Million to reduce if he decided. All in all and with China / air travel reopening then demand will only increase imo. The SPR looks like it will release 20M + Barrels which is only 20% of world's 1 days demand. So I think BP has been re-priced and I also think the init's are diving in to replace the dumped ESG holdings. All in all lots of reason to keep most of these. Long and committed I agree.

[adg] 14/2/2023 20:41

Hit an important SIPP value and sold 8159 BP and 1925 Shell this afternoon (about 18% of shell holding and about 12% of BP holding). And along with sale of some other holdings) allowed enough to make the 25% SIPP tax free lump along with a sale of another asset cover my only remaining mortgage on a holiday rental business property.
So thank you BP, Shell and everybody here and on Shell bb whose wise words have been invaluable.
Long and committed with the remaining 88% holding for now👍

[veryniceperson] 14/2/2023 09:41

Personally, I shall take some profit out when they reach 650. I'm quite sure they will. Buybacks, oil should hold above 70 a barrel. 650, July/August that's my guess.

[planit2] 14/2/2023 09:18

I still stand by my original analysis that at a PE of 4 the buybacks were a great use of capital. It was inevitable there would be a re-rate at some point as the longer they carried on the buybacks at such a low level the stronger the spring was coiled.

+20% is not enough of a rise yet. The rise was caused by institutions adding BP back into their 'allowed' list and their valuation models showing the price discrepancy to their peers.

The question is whether this is just a pause for breath or whether we are done. There are a lot of investors that were saying they would be happy with 5xxp for exit after tolerating the terrible performance over the last 14 years. Perhaps once they are out the share price will carry on rising. In the mean time the more buybacks at a lower price the better (not as good now as when it was under 300p!).

In any case, I decided to stay in for the moment

[adg] 14/2/2023 09:02

Everybody sold out? 😳
Or still in shock ?
Or mega-hungover after benders on the recent profits?
All very quiet considering…………
I’m still pondering, every ounce of me says no stay in - this time in 6 mths or a year it’ll be far higher but common sense says take a bit at least off the table as I am far overweight in both bp & shell having gone in heavy in both a few yrs ago
Wish I had a crystal ball

[the white house] 13/2/2023 08:14

The bankers have algorithms which put a temp hold on buybacks if say price has jumped more than 5pc or 10pc above 3 day prior average. To avoid fuelling a jump they wait until price is calmer. The good news is that within the rest of the buyback period they will have to lift daily rate to fulfil total order. Extra funds for ex div day always useful...

[scoobydoo99] 12/2/2023 23:06

adg - thanks for posting the link, very worth watching.

[adg] 12/2/2023 20:44

Any person thinking that renewables will take the world to net zero anytime soon needs to watch this - it’s a slant I haven’t really given much thought to but effectively is another death-knell for the renewable air head dreamers ill thought out visions - some of the oversights are staggering in their magnitude relating to raw materials required!

[viscount1] 12/2/2023 13:54

It's like astrology for men.

[adg] 12/2/2023 12:22

Any chartists?
I have seen a podcast (2 days old) that states that bp has broken its “76.8% Fibonacci retracement level” which is indicator of continued gains and a 100% Fibonacci level would be 603p and even more bullish.
I know virtually zero on the TA/Chartist side but always interested in how the major resistance and support levels are measured….
Anybody expand on this?

[veryniceperson] 11/2/2023 08:35

Perhaps they are waiting for the share price to settle hellscream. Who would have thought 4 days of the climbing share price. Next week most likely.

[hellscream] 11/2/2023 05:20

wheres our buybacks?, dont want to sound greedy.

[the white house] 10/2/2023 15:57

Above 100 billion first time in 3 years

[gwatson56] 10/2/2023 15:29

EOP today should provide some pointers. A dip at the last hour will indicate traders who took a long position post results closing prior to weekend. Also are we going to see a buyback RNS… I suppose this could come 7am Monday but if both these do not happen I am buying more early doors Monday.

Edit 15.40 Just re-read the buyback RNS, missed the $675 Million additional buyback on top of $2.75B … Sept 23 granted but will increase Q1 buyback number.

Edit 15.58 27th April 2021 ??? Perhaps need to reissue the RNS. Strange if the date is correct ..

[younasm] 10/2/2023 14:39

I guess my new short call options don't register - all between 510-568 level.Looking to exit before xdiv next week,

[pander45] 10/2/2023 13:38

Just strong buying I would say. Optimistic 600+?

[viscount1] 10/2/2023 13:36

I had a quick look and the short interest is low, so probably not burnt shorts.

[pander45] 10/2/2023 13:35

Mad to short this.

[viscount1] 10/2/2023 12:06

The price action looks odd: I wonder if there are shorts being forced to cover.

[veryniceperson] 10/2/2023 12:04

Ft down 51 as well. So far a great run.

[veryniceperson] 10/2/2023 12:00

Wow, can't believe there's no profit-taking. Happy days!

[spacecake] 10/2/2023 10:30

The answer to 2can we stay above 500p" seems to have been answered.
Just need a long term answer to the trilemma.

[gwatson56] 10/2/2023 08:48

Russia to cut 500,000 barrels a day from 1st March reported on Bloomberg. share price has some way to go imo. Also see that Acker BP reported very strong numbers this morning. All positive, also some PI chatter re Exxon tie up. I see that Exxon are keen to get into Trading oil/ gas …. You never know.

[veryniceperson] 10/2/2023 08:40

And still going well. I think we've found a new average perhaps 530 ish. Time will tell!

[veryniceperson] 09/2/2023 17:28

Things are changing positively towards this stock. About time I say