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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: 523.50
Bid: 523.50
Ask: 523.70
Change: 1.00 (0.19%)
Spread: 0.20 (0.038%)
Open: 524.20
High: 530.60
Low: 522.10
Prev. Close: 522.50
BP. Live PriceLast checked at -

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Liberum cuts targets on wide swathe of oil sector firms

Tue, 02nd Feb 2016 12:33

(ShareCast News) - Analysts at Liberum cut their share price targets for a wide swathe of the London-listed oil sector after taking into account the sharp shift lower in futures prices over the last four months.Worries about demand conditions in China and Europe, together with the threat of growing supplies from Iraq, Iran and Libya, had seen the so-called [price] futures strip fall between $15 to $20, the broker said in a research note sent to clients.The near-end of the strip had fallen from a trading range above $100 per barrel in 2014 to within touching distance of $35.Futures prices for further out had dropped to just above $50 per barrel."The oil market appears concerned that, in the short term, supplies from OPEC and the US could outstrip demand but recognises that long-term oil prices above are required to bring forth the investment to replace natural decline."However, while Liberum incorporated then current futures´ prices into its equity valuation models, from 2020 it forecast that a barrel of Brent would trade at an average price of $60, about $10 above market prices.Despite all of the above, Liberum´s Andrew Whittock said he retained a 'neutral' stance on Big Oil.Nonetheless, he was concerned that firms´ estimated free cash flows might not cover their dividend policies even if capital expenditures were reduced.Exploration&production companies should offer more "obvious" value, but positive catalysts remained elusive, he said.His enthusiasm for Tullow, Ithaca and Ophir Energy had thus dimmed, with Premier Oil and Genel being his preferred picks.Although investors may have been put off from Premier Oil due to its levels of debt, the stock offered material appraisal upside and growth opportunities in the UK and Falklands, Whittock wrote in a research note sent to clients.Genel, on the other hand, had volume potential and still held out the prospect of "proper distributions", Andrew Whittock said.From among the majors, BG Group´s target was lowered from 1,185p to 1,008p, BP´s from 405p to 382p and that for Royal Dutch Shell from 1,850p to 1,758p.Liberum also took down its 12-month price targets on Premier Oil (from 90p to 69p) and Genel (from 286p to 226p). The price target on Tullow Oil was lowered from 251p to 170p, on Ophir Energy from 102p to 80p and on Ithaca Energy from 45p to 19p.Whittock also bumped down his view of BP shares to a 'hold' from a 'buy' and on BG Group to a 'sell' from a 'buy'.His recommendation on Royal Dutch Shell on the other hand was upgraded to a 'buy' from a 'hold'. (Sharecast News)
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18 Apr 2024 14:45

BP's gas and renewables boss steps down, as CEO shrinks leadership

LONDON, April 18 (Reuters) - BP said on Thursday its head of natural gas and low carbon energy Anja-Isabel Dotzenrath will step down after just over two years, while CEO Murray Auchincloss announced plans to simplify its management structure.

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18 Apr 2024 14:12

UK shareholder meetings calendar - next 7 days

Friday 19 April 
Murray International Trust PLCAGM
Quantum Exponential Group PLCGM re delisting or potential investment in company
Monday 22 April 
Renalytix PLCGM
Travis Perkins PLCAGM
Tuesday 23 April 
AIQ LtdAGM
NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
abrdn PLCAGM
abrdn Equity Income Trust PLCAGM
AssetCo PLCAGM
Breedon Group PLCAGM
British American Tobacco PLCAGM
Bunzl PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
Entain PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
Serco Group PLCAGM
Synectics PLCAGM
Thursday 25 April 
AFC Energy PLCAGM
Admiral Group PLCAGM
Beazley PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Develop North PLCAGM
Drax Group PLCAGM
Everest Global PLCAGM
Greencoat Renewables PLCAGM
Hammerson PLCAGM
Helios Towers PLCAGM
Hikma Pharmaceuticals PLCAGM
International Biotechnology Trust PLCAGM
London Stock Exchange Group PLCAGM
Manx Financial Group PLCAGM
Mattioli Woods PLCGM re Pollen Street Capital Ltd takeover
Persimmon PLCAGM
Premier Miton Global Renewables Trust PLCAGM
Relx PLCAGM
Schroders PLCAGM
Smithson Investment Trust PLCAGM
Tissue Regenix Group PLCAGM
Weir Group PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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18 Apr 2024 12:02

LONDON MARKET MIDDAY: FTSE 100 up despite hawkish Fed rates outlook

(Alliance News) - Stock prices in London were higher on Thursday afternoon, despite the prospect of higher for longer US interest rates hanging over stocks.

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18 Apr 2024 09:04

IN BRIEF: BP trims executive team in operational restructuring

BP PLC - London-based oil and gas major - Announces organisational restructuring. Intends to keep its three businesses - production & operations, gas & low carbon energy and customers & products - enabled by trading & shipping. Plans to integrate the current regions, corporates & solutions organisation into the businesses and functions. BP will now be supported by five functions: finance; technology; strategy, sustainability & ventures; people & culture; and legal. BP explains these changes will "reduce duplication and reporting line complexity".

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18 Apr 2024 08:11

BP cuts size of executive team, shakes up structure

(Sharecast News) - BP has trimmed its executive team as part of a shake-up of its organisational structure, it was confirmed on Thursday.

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17 Apr 2024 18:58

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, that called on the energy company to set tighter climate targets.

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17 Apr 2024 17:36

Sustainable Finance Newsletter - Republican AGs look to limit climate groups

April 17 (Reuters) - In prior newsletters I have reported on the ongoing review by U.S. energy regulators of top asset managers' big utility holdings.

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17 Apr 2024 13:55

Shell urges investors to reject shareholder group's climate demands

LONDON, April 17 (Reuters) - Shell on Wednesday urged shareholders to vote against an independent resolution, co-filed by a group of 27 investors, urging the energy company to set tighter climate targets.

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17 Apr 2024 10:38

Carbon Done Right advances Sierra Leone rewilding project

(Alliance News) - Carbon Done Right Developments Inc on Wednesday said it has received the fourth disbursement of financing for its reforestation project in West Africa.

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15 Apr 2024 17:10

LONDON MARKET CLOSE: Investors show nerves after Iran launches drones

(Alliance News) - Stock prices in London closed down on Monday, as tensions in the Middle East weighed on investors, with resources sliding as commodity prices fell.

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15 Apr 2024 15:39

London close: Stocks slip on renewed geopolitical tensions

(Sharecast News) - London's equity markets markets experienced a downturn on Monday, with losses particularly notable in the mining and oil sectors, as investors remained cautious amid to escalating geopolitical tensions in the Middle East.

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15 Apr 2024 11:56

LONDON MARKET MIDDAY: Oil falls despite rising Iran-Israel tensions

(Alliance News) - London's FTSE 100 was down at midday on Monday, as oil majors BP and Shell were hurt by falling prices, with investors showing caution following Iran's strikes on Israel over the weekend.

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15 Apr 2024 08:59

LONDON MARKET OPEN: FTSE 100 falls as oil lower despite Iran strikes

(Alliance News) - Stock prices in London opened lower on Monday, with a decline in oil prices sending Shell and BP lower, in a cautious start to the week following Iran's strikes on Israel over the weekend.

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13 Apr 2024 16:52

Sector movers: Investors seek out safe havens across all asset classes

(Sharecast News) - Commodity plays were again sought out at the end of the week after The Wall Street Journal said that an Iranian attack against Israel was thought to be imminent.

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12 Apr 2024 17:28

FTSE 100 sets near record close as commodity stocks shine

FTSE 100 up 0.9%, FTSE 250 off 0.3%

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