Bp Share Discussion Threads

[adg] 12/10/2023 08:01

I’d settle for £9.99
Very heavy still in Shell and BP and see no valid reason to reduce yet (apart from the obvious risks involved in holding high % of one co in a portfolio) - but that I’m ok with for now.

[garycook] 12/10/2023 02:04

BARCLAYS CONTINUES TO SEE 'MATERIAL UPSIDE' IN BP TO 1,000P A SHARE
(Sharecast News) - Barclays said on Tuesday that it expects a positive reaction to the ongoing BP capital markets day.
"We continue to see material upside in the stock to 1,000p a share," it said.

The bank noted that BP is holding a capital markets update in Denver, Colorado. It said a significant amount of detail has been provided on the outlook of the business and will "take time to dig into".

As regards initial thoughts, Barclays pointed out that EBITDA ambitions for 2030 were lifted.

"Whilst 2025 targets remained unchanged, BP lifted its 2030 group ambition for EBITDA by $2bn to $53-58bn driven entirely by an enhanced assessment of its hydrocarbon business which it now expects to deliver $41-44bn by 2030," it said.

In addition, it said that longevity in oil and gas was the focus of the presentation, with BP suggesting that production can grow to 2025 and liquids to 2027 and be sustained both to 2030 and well into the next decade.

"The message here is clear. This is not a business in decline instead having meaningful terminal value," Barclays said.

In terms of resources, BP disclosed that it has 36bn or resources in the upstream, of which 7bn boe are proves and 18bn boe are included in the plan.

"One of the most interesting highlights and one we hadn't thought about was the focus on the Paleogene in the US Gulf of Mexico through the Kaskida and Tiber prospects," Barclays said.
"In a breakout session, the company highlighted a potential for Kaskida starting up in 2028 with production reaching towards 150kb/d. With the growth in bpx volumes, total US production for bp could reach 1mb/d by 2030."

Barclays said the fact there was no update on the financial frame was not unexpected, and that the 2024 update should come in February.

"We do not anticipate a change in rating from S&P this year, but 60% of a higher cashflow number should support buy-back levels," it said. "By 2025 on the current financial frame, net debt could be in the 'low tens' which is broadly in line with our own projection given the higher assumed oil price we use for 2025 relative to BP."

Barclays highlighted "a confident display" from the chief executive and chief financial officer, both of whom are currently acting in an interim capacity.

"When asked about the valuation of the shares, CEO Murray, outlined a thesis which is similar to our Decade of Dominance thesis - essentially that the near term will be characterised by energy shortages and volatility with changing perception about the longevity of the oil and gas business driving the initial rerating followed by increased investor recognition of the low carbon business."

Barclays rates BP at 'overweight'.

[the white house] 11/10/2023 16:26

Investor day 180 U turn in Denver. US business leader & Looney gone BP recommit to growing oil & gas output & analysts reckon may be in play like Pioneer for consolidation in industry

[veryniceperson] 10/10/2023 21:47

He's only the acting ceo. I think they would like another Bob Dudley type of person. A proper oil and gas man with a bit green on the side. That's just my opinion of cause !

[f56] 10/10/2023 19:38

I suggest you take a closer look!

[f56] 10/10/2023 19:36

Check the BBC.

[tradejunkie2] 10/10/2023 19:25

Breaking news.

Israel bombed babies and children in Gaza.

[f56] 10/10/2023 19:10

Breaking news.

Hamas killed babies and children.

[veryniceperson] 10/10/2023 11:53

Not bad today ft over a hundred , share price minus.

[meb123] 10/10/2023 08:28

That's right . I believe the rule is they are allowed to accumulate treasury stock up to 10% if issued capital at any given time , not necessarily every year

[veryniceperson] 09/10/2023 08:09

They are not allowed to buy back more than 10% of their shares a year, I believe. If I'm wrong, anybody put me right!

[smurfy2001] 09/10/2023 07:56

Wow that’s allot thanks.

[veryniceperson] 09/10/2023 07:14

4 billion to just over 17 billion.

[daler1966] 09/10/2023 06:22

Oil up 3.5% this morning

[smurfy2001] 08/10/2023 16:37

How many shares have they bought back since they started a few years ago?

[veryniceperson] 07/10/2023 09:36

It is our money because we, the tax payer's, will have to pay it back. End off.

[netcurtains] 07/10/2023 08:59

hellscream: "its our money"..
Actually its no ones money.

The UK government mainly borrows from the Bank of England who make it appear out of thin air. There actually is no real money behind it. Its just sort of "printed"...

[mortlolc] 06/10/2023 13:29

If the story in the Times this afternoon pans out then Exxon are out of the picture with regards to BP (for now!) I know they could still probably fund a bid, but if they do spend $60 Billion on Pioneer Natural Resources they might want to wait a bit!