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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: 510.40
Bid: 509.40
Ask: 509.50
Change: -5.40 (-1.05%)
Spread: 0.10 (0.02%)
Open: 516.30
High: 516.60
Low: 506.10
Prev. Close: 515.80
BP. Live PriceLast checked at -

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Broker snap: Macondo spill still hanging over BP, says Jefferies

Tue, 04th Dec 2012 10:18

Jefferies has retained its 'hold' rating and 450p target price for oil titan BP despite the stock trading at a large discount to the sector, saying that the business is 'yearning to be free' from the Macondo well disaster."Post-Macondo it is evident that BP is evolving into a simpler and more oil focused entity," the broker said."Although there were no significant changes to BP's previous guidance in the period to 2014, BP held out the likelihood of higher-margin volume growth resuming from 2014, plus the reiteration of its 50% growth in cashflow to 2014, which should underpin more rapid dividend growth than peers."Jefferies said that the company is now in the final stretch of tying up loose ends with the Macondo disaster. The broker believes that BP was close to achieving a comprehensive settlement on all outstanding liabilities but the deal was scuppered by disagreements between the coastal states on allocation of the payment."Given that, BP is preparing for the trial re-commencement in February 2013, although we still believe there is a good chance of settlement before that. Our estimate is that the final civil payment will be between US$10-15bn."At the current price - BP closed yesterday's session at 430.15p - the stock is trading at just 7.0 times 2013 earnings, a 21% discount to global peers but identical to UK-listed rival Royal Dutch Shell."The key risk for the stock is the final resolution of the Macondo liability," Jefferies said.Shares were down 0.52% at 427.90p in mid-morning trade on Tuesday.BC
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Johnson Matthey and BP win deal for US sustainable aviation fuel plant

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Slide in defence stocks knocks down Europe's STOXX 600

BP gains on higher quarterly upstream energy output forecast

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9 Apr 2024 17:13

FTSE 100 ends down as defence stocks offset commodity gains

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London close: Stocks slip ahead of ECB, US inflation print

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LONDON MARKET MIDDAY: FTSE 100 treads water despite boost from miners

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PRESS: Shell could make London exit if value gap to US does not close

(Alliance News) - Shell PLC fired a warning shot to that it could be prepared to move its listing to the US in a fresh blow to London's financial centre.

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TOP NEWS: BP predicts upstream production will rise in first quarter

(Alliance News) - BP PLC on Tuesday said it expects first quarter upstream production to be higher than the previous three month period but cautioned lower prices would hurt performance elsewhere.

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LONDON MARKET OPEN: Stocks shaky ahead of US CPI data, ECB decision

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BP expects rise in first-quarter upstream energy output

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LONDON BRIEFING: HSBC sells Argentinian arm for USD550 million

(Alliance News) - Stocks in London are called to open lower on Tuesday, as investors nervously look ahead to US inflation data and the European Central Bank's latest interest rate decision.

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