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Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
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Share Price: 313.55
Bid: 313.45
Ask: 313.60
Change: -0.95 (-0.30%)
Spread: 0.15 (0.05%)
Open: 318.05
High: 318.10
Low: 309.25
Yest. Close: 314.50
BP. Live PriceLast checked at -

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Berenberg upbeat on BP long-term, less so on 12-month basis

Thu, 8th Oct 2020 10:47

(Sharecast News) - Analysts at Berenberg sounded a positive note on the long-term prospects for BP as it transitions towards renewable energies.
However, for the company to attain its stated goals for 2030, as per management's strategic update from 14-16 September, it had a lot of hard rowing ahead of it, including "huge" investments.

And even after those, it would take time for investors to buy in.

"The company aims to have 20% of capital employed in transition businesses by 2025; we view this as a reasonable minimum level to achieve before market valuations start to give BP credit for the higher multiple potential of these businesses," they said.

In any case, for over the near-term, that is to say for the next 12 months, the key drivers of the stock would be: progress on asset sales, on reducing net debt, its success in cutting costs, a possible restart of share buybacks and "any recovery in oil prices".

Thus, while Berenberg bumped up its estimates for the outfit's adjusted earnings per share across 2020-22, it lowered its target price from 320.0p to 260.0p, while keeping its recommendation for the stock at 'hold'.

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6 May 21 17:29

Woodfibre LNG signs 2nd agreement with BP on British Columbia LNG plant

May 6 (Reuters) - Canadian liquefied natural gas (LNG) developer Woodfibre LNG said Thursday it signed a second agreement to sell LNG from its proposed export plant in British Columbia to a unit of oil major BP PLC. (Reporting by Scott DiSavino)

6 May 21 16:45

BP Midstream offshore pipeline volumes rise 12%, onshore levels lag in first quarter

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6 May 21 16:26

Renewables to grow far faster than oil sector expects, Rystad says

OSLO, May 6 (Reuters) - Renewable energy will account for a far larger share of global supply in 2050 than major oil companies or the International Energy Agency (IEA) expect, Oslo-based consultancy Rystad Energy said on Thursday.Its updated model...

6 May 21 10:17

UK shareholder meetings calendar - next 7 days

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5 May 21 15:54

LONDON MARKET CLOSE: DAX underperforms in rocky European session

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4 May 21 17:08

DIRECTOR DEALINGS: Filta Non-Exec Sayers sells GBP1.7 million worth

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4 May 21 15:45

LIVE MARKETS-Expect a dip, but get ready to buy it

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4 May 21 12:28

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4 May 21 12:18

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4 May 21 11:51

LIVE MARKETS-The EU's stimulus plan is no minnow

* European shares flat* Mining and travel stocks lift by recovery hopes* Britain to announce green list of holiday countriesMay 4 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your though...

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TOP NEWS SUMMARY: Saudi Aramco reports 30% rise in quarterly income

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4 May 21 10:08

UPDATE 2-UK stocks fall as bank stocks weigh; factory activity jumps

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* UK factory activity expands at fastest rate since 1994* Weaker pound boosts heavyweight consumer staple companies* FTSE 100 down 0.7%, FTSE...

4 May 21 09:46

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