Member Info for daveybr

Made a post some time ago (pre Iran conflict) that I was looking to exit at 5.50.

Happy to exit at 5.54.

BP could have legs to go a pound higher.

It could just as easily drop a pound on news of a truce.

None of it is based on what the company is actually doing to improve the business though.

Hopefully the new management will get a grip on the company over the next 12 months.

I’ll sit this out and watch from the sidelines though, unless there’s a drop to 360!

About time the share buybacks were stopped. Should be rules in place not to buy back if debt is over X amount (no idea what X would be!)

A bit of a harsh reset to give the new boss early upwards momentum

Still a long term holder taking the divi and looking to exit at 5.50.

Continuing to ignore the opportunity cost!

Basially a 3 year plan (end of 2027 mentioned a lot).

Short term debt up in the first half of 2025.

Aim of net debt down to between 14-18 billion by end 2027 (nearly 30% difference between the 2 numbers. Vague).

We’re going to do more of the the things that work and less of those that don’t (ground-breaking business management!!)

The market reaction says it all: It’s a big ship to turn around, so don’t expect anything exciting to happen very soon.

I’m still a long hold with ideal exit at 5.50 - just hope I’m still alive by then!

Based on that, I’d say 4.20 is the new floor going forward. The value unlock Elliott ‘might’ provide could see it over 5.00 in coming months. At 5.50 I’d consider selling (depending on what is going on at the time). Other than that a hold and take the divi.

So the share buybacks have been funded by the balance sheet? Net debt up when interest rates at their highest. Not a good long term sign.