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BP. Bp Plc

493.30
2.30 (0.47%)
18 Mar 2024 - Closed
Delayed by 15 minutes
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 Shares Traded Last Trade
  2.30 0.47% 493.30 25,444,582 16:35:24
Bid Price Offer Price High Price Low Price Open Price
493.60 493.70 496.45 491.15 493.35
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Petroleum Refining USD 210.13B USD 15.24B USD 0.8934 5.53 84.21B
Last Trade Time Trade Type Trade Size Trade Price Currency
18:08:35 O 1,215 492.93 GBX

Bp (BP.) Latest News (2)

Bp (BP.) Discussions and Chat

Bp Forums and Chat

Date Time Title Posts
19/3/202400:27BP. - Charts & News9,182
28/1/202410:14BP to benefit from oil price boom?424
17/12/202316:30BP - heap of festering tosh........just won't go up!!??32
06/10/202312:28 BP99,248
01/9/202320:17British Petroleum Plc (basic display)14

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Bp (BP.) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-03-18 18:08:35492.931,2155,989.10O
2024-03-18 18:08:25492.774782,355.46O
2024-03-18 18:08:24492.469304,579.90O
2024-03-18 18:08:23492.655,37026,455.31O
2024-03-18 18:06:44493.307,48536,923.51O

Bp (BP.) Top Chat Posts

Top Posts
Posted at 18/3/2024 08:20 by Bp Daily Update
Bp Plc is listed in the Petroleum Refining sector of the London Stock Exchange with ticker BP.. The last closing price for Bp was 491p.
Bp currently has 17,057,902,258 shares in issue. The market capitalisation of Bp is £84,206,334,497.
Bp has a price to earnings ratio (PE ratio) of 5.53.
This morning BP. shares opened at 493.35p
Posted at 18/3/2024 18:12 by gwatson56
Eyes down 20.30pm tomorrow. API reporting. If we have a good reading (well into the green) then I would expect oiler's to react positively. BP's new support should start with a '5' if this is the case.



Also given the rise in refining margin's of late due to the targeting of Russian refineries (£400M / $1 increase for BP as per the weekly trading update) again share price supportive. Assuming trading is doing normal business then I agree that we will see a higher trading range in the coming months.
Posted at 12/3/2024 10:38 by veryniceperson
With Opec + holding oil (Brent) between $80.00 to $85.00 a barrel. BP is coining it. BP also buys its share back at a rate averaging 4.7 million a day for cancellation, which will probably continue for the next 2 years. Also, personally, I think they will slow their green agenda down a lot more and pump more oil gas, IMHO. The thing is, if the share price remains at these levels, they may well come across a predator over the pond that just might be interested. Again IMHO
Posted at 08/3/2024 09:30 by veryniceperson
https://oilprice.com/Energy/Crude-Oil/Kuwait-Sees-Solid-Oil-Demand-In-A-Fairly-Balanced-Market.html This article should improve the share price of Shell and BP + others Opec+. It seems to want to keep the price of Brent above $80 a barrel. That should come through on the results throughout the year. I'm surprised the share prices aren't higher
Posted at 06/3/2024 00:17 by philanderer
BP can be serious force in EV charging, suggests UBS


BP plc is a much better equity story than just how much cash it is handing out to shareholders, according to analysts at UBS.

All of the talk recently has been about share buybacks and its low relative rating, but a low oil price breakeven and efficient production base will provide the funds to sustain total distributions, while also funding growth from low carbon, said the Swiss bank.

UBS noted that while the electric vehicle transformation might have stalled recently, peak oil demand is still on the horizon and as EV use grows, this will displace three million barrels of daily oil demand by 2030 and nine million by 2040.

BP is better prepared for this energy transition than peers, UBS suggested, even with higher debt and as its businesses here gain scale, breakeven will fall to US$40 per barrel.

EV charging is also a natural area for BP to succeed given the fuel marketing business it already has, plus its real estate in key strategic locations and an improved convenience offering.

BP is making partnerships with OEMs (including Tesla), with lessons learnt having been an early adopter.

By 2030, UBS sees this business as being worth 138p per share or more than the lost value in fuels.

Buy with a 600p share price target is the Swiss bank’s view on BP shares.



proactiveinvestors.com
Posted at 27/2/2024 15:52 by veryniceperson
Brent trading at $83, the share price seems to be going nowhere. If they keep this up, they might come across a predator. I say that if Brent goes down the share price, it may just follow.
Posted at 15/2/2024 16:58 by marktime1231
Quite, he was stubbornly wrong as BP gained 200% on his Sell. When he switched to Hold it alerted me to the chance that the share price might have peaked outwith the oil price bubble.

Nonetheless I would like to understand how BPs strategy over the next 2 years prepares it for the medium term scenario which may nor may not be the downslope immediately post-peak oil price. If you believe they will be "performing while transforming" it is possible they are doing everything right, in position for renewables and chasing down production costs to maintain oil and gas margins. In which case you could argue for Buy. Or are they underinvesting in all directions because there is no conviction, "withering while dithering" gets us to a Sell.
Posted at 15/2/2024 10:58 by marktime1231
In his recent IC report on BP Alex Hamer keeps a Hold verdict, having been a firm Sell throughout the previous three years. This is mostly due to the firmer commitment to buybacks through 2024 and 2025, spending $14B to take about 14% off the table at $6.

There is no real expectation that this will strongly enhance the share price, but it should embed dividend progress. Hamer, who is anti fossil fuel, observes that the buyback "enhancement" is to be achieved by capping expenditures and by shifting 80% rather than 60% of cashflow in to shareholder returns. So not much directed at debt reduction.

Is the subtext that BP is satisfying activists by exploiting its existing oil and gas reserves before we hit the downslope, with low capex on renewables and restrained e&p? Curious to know what 2025-2030 looks like. As ever it all depends on the price of oil. Or a merger for a US-listing.
Posted at 08/2/2024 14:25 by marktime1231
Thought I would check up on you guys since divesting last Summer, which I did at roughly this share price because they backtracked on commitments to green plans and because the oil price is stuck and because BP seems to have reached a settled price level. Any chance of recouping Rosneft value seemed to have gone. So I'm trying to judge what is in the results or outlook to merit reinvestment.

The results did not excite frankly so why did the share price jump? A 5% yield does not cut it with me despite the progression. Debt reduction has stalled in favour of continuing buybacks at about $7B a year, which itself is not really moving the share price any more because there are so many wanting to divest. Restrained capex, on all things not just green ventures. Buying out Lightsource in order to attract co-investment partners presumably from infrastucture wealth funds or the likes of Equinor. What else in the outlook worth discussing?

The oil price is stuck because the US has squeezed production up to a record 13 million barrels a day at the bidding of Biden to ease domestic prices, exploiting the Permian basin while there is still a demand for oil. In the process outdoing OPEC+ ability to compensate with production caps, a little economic growth offset by demand destruction from EVs. Even hostilities in the Red Sea haven't been able to push Brent back up above $80. Have we maybe seen peak oil in terms of both production and demand?

My view is that BP remains on a positive path in the short term. And ... ?
Posted at 06/2/2024 09:49 by gwatson56
"Related to the fourth quarter results, bp intends to execute a $1.75 billion share buyback prior to reporting first quarter results. Furthermore, bp is committed to announcing $3.5 billion for the first half of 2024. At current market conditions and subject to maintaining a strong investment grade credit rating, bp plans share buybacks of at least $14 billion through 2025 as part of our commitment, on a point forward basis, to returning at least 80% of surplus cash flow* to shareholders."

So the 60% buyback has changed to 80% to shareholders (buyback + divi's) though in writing $14B (av $1.75B / qtr) through 2025. Sitting on my hands to see what Murray has to say..... the Q&A should allow for some future direction of the share price

Only oil trading was 'weak'.... otherwise good set of numbers all things considered imo... beats slightly the av analysts estimates.
Posted at 09/11/2023 18:26 by gwatson56
Questor note in the Daily Telegraph....

For all the uncertainty over BP’s strategy, we can be confident that share price gains lie ahead

Story by Robert Stephens •

The future is perennially uncertain for every company. Even the most knowledgeable and experienced investors do not know what will ultimately happen to any company’s share price. Even if they argue otherwise. However, there are times where uncertainty is particularly heightened.

Following our analysis of Shell on Tuesday and of Italy’s ENI on Monday, we conclude this week’s short series on oil companies with BP – a business that faces a hugely opaque outlook, largely as a result of its muddled strategy.

In 2020 it announced ambitious plans to turn towards renewables in response to the world’s expected transition to net zero. However, it has since watered down those plans, thanks in part to an elevated oil price as well as an increasingly cautious industry consensus on how quickly net zero can happen and how profitable it can be.

In addition, the company is without a permanent chief executive after Bernard Looney stood down in September. Until a new permanent boss is announced, which appears unlikely in the near term because of the abrupt nature of Looney’s resignation, the future direction of the business seems likely to remain unresolved. Ultimately, though, fossil fuels are widely expected to remain a key part of the world’s energy mix for decades to come. They are therefore likely to deliver high levels of profits and cash flow for energy businesses over the coming years. At the same time, renewables are arguably most accurately described as a potential long-term growth opportunity that does not appear to offer high returns in the short run.

Despite its lack of a clear strategy, BP’s shares have been extremely strong since we tipped them in August 2021. They have soared by 61pc and in doing so have trounced the FTSE 100 index’s paltry 4pc rise over the same period.

Their prospects are aided by a continued low valuation: they trade at about seven times forecast earnings, which suggests a wide margin of safety.

In Questor’s view, this bargain valuation is key to their investment appeal during a highly uncertain period for the business; even though BP’s strategy is likely to be confirmed only once a new management team is in place, its share price fully factors this in. The share price also more than adequately compensates investors for an uncertain outlook for the global economy, whose rate of growth is expected to fall from 3.5pc last year to 3pc this year and 2.9pc in 2024. And, because the full impact of rapid rises in interest rate has yet to be felt owing to the existence of time lags, the prospects for oil and gas prices are highly uncertain.

However, if we assume that interest rates will fall over the next two years as the era of rampant inflation comes to an end, the outlook for the world economy is extremely likely to improve. There are also geopolitical risks that could support fossil fuel prices and BP’s performance over the coming years.

The company’s market value has declined following the recent release of its third-quarter results. Its shares have fallen by 13pc over the past three weeks and could prove volatile over the short run. Although the company reported growth in underlying profits of 27pc compared with the previous quarter, they were 60pc lower than in the same period last year. This was largely due to weak results from gas marketing and trading, which more than offset buoyant refining margins and a strong result from oil trading.

The third-quarter dividend was held at around 6p a share, which means the stock currently yields around 5pc on an annualised basis.

The company also announced a further $1.5bn (£1.22bn) repurchase of its own shares, which is underpinned by continued robust cash flow generation, while net debt fell by nearly 6pc relative to the previous quarter. As a result the company has a relatively modest net gearing ratio of 26pc.

As ever, Questor believes that the best time to buy any high-quality stock is when its market valuation reflects elevated near-term uncertainty. On that basis, BP remains a buy. Its wide margin of safety, solid fundamentals and a growing realisation among investors that fossil fuels can provide generous returns for many years to come mean that further capital gains are ahead.

Questor says: buy

Ticker: BP

Share price at close: 481.05p
Bp share price data is direct from the London Stock Exchange

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