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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bp Plc | LSE:BP. | London | Ordinary Share | GB0007980591 | $0.25 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-5.40 | -1.05% | 510.40 | 509.40 | 509.50 | 516.60 | 506.10 | 516.30 | 26,147,354 | 16:35:10 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Petroleum Refining | 211.6B | 15.24B | 0.8934 | 5.70 | 86.91B |
By Jaime Llinares Taboada
BP PLC on Tuesday reported a narrowed underlying replacement cost profit for the third quarter of the year that beat market expectations.
The FTSE 100 oil giant made an underlying replacement cost profit of $86 million for the three months ended Sept. 30 compared with the company-compiled market consensus of a $120 million loss. The metric is similar to the net profit figure that U.S. oil companies use but strips out one-off items. BP had reported a $2.25 billion underlying RC profit a year earlier.
BP's net loss for the period came in at $450 million, narrowing from a $749 million loss a year earlier.
A weak oil market continued to hurt the British company in the third quarter, with average prices of $43 a barrel severely squeezing margins during the period. However, BP said that, compared with the second quarter, the company's financial performance benefited from the absence of significant exploration write-offs, and recovering oil and gas prices and demand. The upstream division swung to a $878 million underlying RC profit before interest and tax in the third quarter compared with a $8.5 billion loss in April to June.
BP's board declared a dividend of 5.25 cents a share for the period, in line with the shareholder payment reset announced this summer. It is down from 10.25 cents a year earlier.
The company reported net debt of $40.4 billion as at Sept. 30, down $500 million from the beginning of the quarter.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
(END) Dow Jones Newswires
October 27, 2020 03:45 ET (07:45 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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