The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBP Share News (BP.)

Share Price Information for BP (BP.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
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 -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

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)
More News
18 Jan 2024 21:47

Three New England states extend offshore wind solicitation due date

Jan 18 (Reuters) - Massachusetts, Connecticut and Rhode Island extended on Thursday the date bids are due in the states' next offshore wind solicitations from Jan. 31 to March 27.

Read more
18 Jan 2024 20:32

EXECUTIVE CHANGES: Eco Buildings chair leaves and vice chair ousted

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Thursday and not separately reported by Alliance News:

Read more
17 Jan 2024 15:03

London close: Stocks slip after surprise jump in UK inflation

(Sharecast News) - London's financial markets experienced a downturn on Wednesday, as a surprising increase in UK inflation and sluggish Chinese GDP growth impacted investor sentiment.

Read more
17 Jan 2024 12:10

BP's Auchincloss named CEO, reaffirms energy transition plan

Auchincloss was interim CEO

*

Read more
17 Jan 2024 08:48

LONDON MARKET OPEN: UK inflation surprises markets sending stocks down

(Alliance News) - Stock prices in London took a hit on Wednesday morning, after some hotter-than-expected UK inflation data added to interest rate worries.

Read more
17 Jan 2024 08:33

TOP NEWS: BP buys Getec Energie; promotes Auchincloss to permanent CEO

(Alliance News) - BP PLC on Wednesday said that it will buy Getec Energie GmbH as it promoted Murray Auchincloss to the role of permanent chief executive officer.

Read more
17 Jan 2024 07:46

LONDON BRIEFING: UK inflation surprises as unexpectedly rises to 4.0%

(Alliance News) - Stocks in London are called to open lower on Wednesday, following some hotter-than-expected consumer price data from the UK.

Read more
17 Jan 2024 07:11

BP names acting CEO Murray Auchincloss as permanent leader

(Sharecast News) - BP has named its former chief financial officer Murray Auchincloss as its permanent chief executive, after having served in an interim capacity for the past four months.

Read more
16 Jan 2024 21:28

PRESS: BP close to naming acting CEO Auchincloss as permanent chief

(Alliance News) - Directors of BP PLC were meeting on Tuesday evening to finalise the appointment of Murray Auchincloss, the company's acting chief executive, as its permanent boss, according to a report.

Read more
16 Jan 2024 16:38

Shell halts Red Sea shipments over attack fears from Yemeni rebels

(Alliance News) -London-based oil major Shell PLC has paused transit through the key Red Sea shipping route indefinitely, over fears of escalating tensions involving Yemen's Houthi rebels, according to a media report on Tuesday.

Read more
16 Jan 2024 13:13

Shell in Nigeria

LONDON, Jan 16 (Reuters) - Shell pioneered Nigeria's oil and gas industry and remains a major investor in the West African country even after exiting its onshore operations. But over the decades the British company has come under fire over spills in the Delta region and struggles with oil theft, corruption and oil-fuelled violence.

Read more
12 Jan 2024 15:39

London close: Stocks rise on positive UK economic data

(Sharecast News) - London's financial markets closed on a positive note today, buoyed by fresh data indicating that the UK economy had returned to growth in November.

Read more
8 Jan 2024 19:48

Shell signs 20-year purchase deal with Canadian Ksi Lisims LNG project

Jan 8 (Reuters) - Global gas giant Shell has agreed to buy two million metric tons of liquefied natural gas (LNG) per year from Ksi Lisims LNG, partners in the proposed Canadian project said on Monday.

Read more
8 Jan 2024 16:59

LONDON MARKET CLOSE: Stocks mixed as eyes on US inflation data

(Alliance News) - Stock prices in London closed mixed Monday, with oil majors holding down higher gains in the FTSE 100 index.

Read more
8 Jan 2024 16:38

London close: Stocks manage positive finish after mixed session

(Sharecast News) - London's financial markets experienced a mixed trading day on Monday, with the FTSE 100 and FTSE 250 indices closing in positive territory after spending much of the session in the red.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.