Bp Share Discussion Threads

[putinaire] 06/10/2024 18:26

Awful in London recently.

If Isreal lose, I'm leaving the UK. I don't fancy a new gov voted in that wil most likely order trident strikes on London

[putinaire] 06/10/2024 18:24

Are you lot hybrid avatar squirrels. Wtf blackhead ? Here 15 years and suddenly posting

Even UK forums are full of sleeper cells

[blackhead2009] 06/10/2024 17:58

"If I was ro do that, I'd deem you all disgusting little gerbils with fur covered in excrement" LOL

[kasamavic] 06/10/2024 17:21

It may be up 7% in a week, but it's still lower than it's mid September price when it dropped off.

[waldron] 06/10/2024 16:35

BP shares are up 7% in a week but still yield 5.4% with a P/E of just 6! Time for me to buy?

Harvey Jones thought BP shares looked unmissable value when he bought them in September. Now he’s wondering whether he should go back for a second bite.

Posted by
@HarveyJ49631067
Harvey Jones ❯
Published 6 October, 5:00 pm BST



You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services.

I bought BP (LSE: BP) shares last month because I thought they looked great value.

I’m already thinking about buying more. Should I take the plunge?

The FTSE 100 oil and gas giant looked too cheap to ignore trading at less than six times earnings. Energy stocks tend to be cyclical, and this looked like a good time to grab BP when it was down rather than up.

As the energy shock subsided, most of the heat had gone out of the BP share price. I didn’t want to miss out on the next upswing, so dived in.




I was also tempted by the dividend. In 2020, the board rebased shareholder payouts at 26 US cents per shares, down from 41 cents the year before. This cut the yield to just over 4%. I’d got used to seeing BP shares yield north of 6%, and felt this was a bit of a comedown.

Yet with the shares plunging 16.54% over the last year, BP now has a trailing yield of 5.39%. That’s comfortably above the FTSE 100 average of 3.54. Better still, the yield is forecast to hit 5.7% this year and top 6% in 2025.

Timing share purchases correctly is mostly pot luck, but I seem to have got this one just right. When I bought BP, the oil price was sliding below $70 a barrel. Tragic and terrifying events in the Middle East have driven it up to $78 at time of writing.

The oil price climbed more than 8% last week, its biggest weekly jump since January 2023. Hopes of a US recovery also played a part, as this will boost demand, as may Chinese stimulus.



The BP share price is up 7.39% over the last week. There’s now talk of oil heading towards $100 a barrel. That would surely drive the BP share price a lot, lot higher. However, I don’t put much faith in predictions like that. There are simply too many variables at play.

Neither Washington nor Beijing want to see oil prices soar right now. Markets are betting they will put pressure on Israel and Iran to keep a lid on things. That may explain why the oil price hasn’t gone a lot higher.

I’m not going to predict where the oil price will go next. And I wouldn’t trust anybody who claims they do. Oil could just as easily plunge towards $50 a barrel, if rumours that Saudi Arabia could flood the market to grab share are correct. That would hammer the value of my BP shares. Again, it’s just speculation.

What I do know is that BP shares still look good value, despite last week’s hop, trading at 6.11 times trailing earnings.

The same long-term challenges remain, as the planet warms but BP struggles to find a future beyond fossil fuels. But I bought the stock with a long-term view and taken from that perspective, I still think they look a strong buy today, I will buy more BP shares the moment I have the cash to do so.


When investing expert Mark Rogers has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for nearly a decade has provided thousands of paying members with top stock recommendations from the UK and US markets.

[putinaire] 06/10/2024 16:33

You lot not prepped for outages and food shortages of the future? Time to catch up

[johnwise] 06/10/2024 16:20

Windmills are us:

A friend who's wife has a major health problem received a letter from the local electricity supply informing them that there could be power cuts throughout the winter and included an emergency phone number..

VIDEO

Turning Off the UK Electricity is being rationed. If you were given a ration book, you’d understand


10 Creative Ways to Cook Food with a Candle..LOL

[waldron] 06/10/2024 16:19

BP, Equinor GBP4 billion carbon capture project approved in UK

October 06, 2024 at 09:46 am


(Alliance News) - A GBP4 billion project to build an industrial-scale carbon capture, utilisation and storage facility in North East England has been approved by the UK government.

Work on the Net Zero Teesside project, led by BP PLC and Equinor ASA, is set to start by the end of this year with operations expected to begin in 2027.

The proposed power station will generate up to 860 megawatts of low-carbon electricity – enough to power up to 1.3 million UK homes, according to South Tees Development Corp.

Up to two million tonnes of CO2 emissions from the power station will be captured each year – emissions which would otherwise be released into the atmosphere.

Tees Valley Mayor Ben Houchen, who hopes Teesside can become a global leader for green energy, described it as "a monumental day", and Chris Musgrave, chairman of the Teesworks industrial zone, said it is "fantastic news" that could bring jobs and investment to the region.

The captured CO2 will be transported by the Northern Endurance Partnership by pipeline to a geological site under the North Sea, where it will be permanently stored.

Houchen said the NZT project "will provide power to 1.3 million homes, help with energy security, but more importantly it will give generational job opportunities to local people" as the Teesworks area provides investment, training and local jobs.

He said Teesworks has already transformed the site and secured billions of pounds of private investment, adding: "Teesside is no longer seen as an old industrial heartland in decline – we are now a global player leading the world once again and I'm delighted to deliver another promise as mayor.

"This is a day that we look back on as the start of a golden generation for Teesside."

The aim is for projects at Teesworks over the next decade to help boost local revenues, with income from business rates expected to increase by GBP79 million annually once large-scale projects become fully operational, according to the corporation.

Dynamic battery storage, sustainable aviation fuels and hydrogen fuel production could be among the clean energy projects.

Musgrave added: "Over the past few years, we've been clearing the former steelworks and preparing the site for projects like this. It's a huge step towards a greener future for us all, and I'm proud that the Teesworks site will be at the heart of it."

source: PA

Alliance News Ltd.

[skinny] 06/10/2024 15:20

veryniceperson - the link is in post 11999.

[putinaire] 06/10/2024 14:21

Response to Macron

[putinaire] 06/10/2024 13:37

I rest my case

[veryniceperson] 06/10/2024 13:27

No luck, no link. No worries skinny

[putinaire] 06/10/2024 13:23

Sad to say, the UK has become a morally valueless society. (Cloaked by valueless values) t needs to learn much from the east