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What do you think the chances are of getting a proper CEO - someone that knows what an oil company is meant to do?
Even black rock seem to be unwinding from some of their ESG nonsense - maybe the BOARD should look for someone devoted to PROFIT not ideology
I have every faith in BP long term - the world needs energy no matter where it comes from.
With the options I'm simply using the extra leverage they bring to increase my buy-in stake. For example last week the 25's were up 57% - now they are up 28% - whereas the share price has only changed by a few %, so even if the share price goes up, I can almost certainly buy more than I could if I bought today. So looking for a small bump up on the share price soon and I'm in. Unfortunately the buybacks only seem to offer support, I was hoping for a bigger lift in the dividend which would then have supported a higher share price - but it didn't happen this time, but I'm sure this quarters results will be amazing and everyone knows that, so hoping for some drift upwards by november
I see the Biden administration has just asked OPEC to pump more oil !!!
You could make this up - so much for the green push, its all fine until petrol at the pump gets too high.
some news stories are blaming this for the drop in oil this morning.
Thanks UpDown - have I confused the ADR shares with the LSE shares?
So its about 40 million shares @ 3 pounds - fair enough - my mistake
I was just thinking (panicking) that the only buying pressure that seems to exist was about to disappear
So based on BP's filings am I right in assuming the buy backs have nearly finished (perhaps by thursday or friday)
They have filed 4 times with share volumes around or over 10 million shares - so at $25 a share thats over $1B bought back already.
As I said before - a drop in the ocean really - but was hoping for improved sentiment (and dividend) to move sp - still believe this is ridiculously undervalued.
Any one think Aramco's absolutely monster earnings and positive outlook for second half will finally wake people up to the still undervalued oil market stocks?
It would be nice to see a move up in oil price and sentiment to try and get BP above $26
I think the only thing that will establish a higher share price at the moment is a higher dividend.
Buy backs are a complete waste of time for any expectation of a short term rise - even a billion $ thrown at buy backs is a fraction of a dollar on the share price. Sure if they do that for the next 10 years it will add up. But the dividend is only at 5% because the share price is at $24 - if institutions or individuals want a dividend stock - BP ONLY works is the share price is this low. Double the dividend and we could quickly see a new level for the share price NOW. If they doubled the dividend I would be quite happy paying $35 for the shares because I would still be getting a 7% plus dividend. The market would then decide the balance for the share price. I think they should increase dividend and focus on paying off debt - when the debt has gone then start with buy backs.
Thanks NewKOTB
I was thinking along same lines that we should beat estimate and thats good - I didn't have a clue how to work out by how much they beat it - but based on all second half forecasts and current sentiment I bought in big - so just hope that works out.
Looking like a good start to this week anyway :-)
Just signed up and not sure if I can start a thread - so will ask here.
Has anyone looked at the issue with Gulf of Mexico payment (= $1.2B)
Everyone seems to think earnings report next week will be great - but in their last report they expected a cash loss because of that payment.
Is the expection here that the price of oil over the last 3 months was higher than BP expected - therefore they will have a (+)ve cash surplus - instead of the (-)ve they themselves predicted ??
Basically what I'm getting at is that BP themselves predicted a **** earnings report - so what are your thoughts?