Member Info for meoryou

BP p.l.c. (the "Company") announces that on 4 August 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 11,312,928 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the buyback programme announced on 2 August 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 419.0000
Lowest price paid per Share (pence): 406.8500
Volume weighted average price paid per Share (pence): 412.3364

Baz
I love how this board works sometimes.
I start a thread about something and it turns into you winning a Premium Bond
2 months later.
Good luck

Think Bernard said a lot of Gulf of Mexico and On shore American oil is hedged for some reason , so assume they hedge at prices above $100.
And still so far not seeing long term driver to lower price with diesel very tight.

1)Never turn your back on you BP shares between 2 pm and 3 pm
See today as an example.
2) If you plan to sell any time it might be a good idea to do it before America opens.
3) at least if the pound tanks the div goes up.
4) at least if the sp goes down the buybacks get more shares.
5) BP is an investment they can go up as well as down( sometimes it doesn’t feel that way)
6) the moment you sell sp goes up , the moment you buy sp goes down.
7) the moment the long term investors on here who bought high and are waiting on sp rising to get out ,sell unfortunately suddenly the market will wake up to the tremendous value BP is.
I’m sure there are many more you could add

Chandley
Back in the early 2000s I had one of those mortgages linked to your other accounts so you only paid interest on what you owed minus anything in your other accounts.
Interest was calculated daily.
My wife used to laugh every month end when I paid off any odd amounts below £100 to leave a balance of whole hundreds but it sure added up over a couple of years.
The other great trick in those days was to buy shopping or fuel on Friday as they did not take off till Monday and it all added up.
It felt good to have a bit of control.
Mortgage was only a short number of years but was paid more than a year early due to the games I played

In April I took ownership of 4000 shares my wife had in ISA at £4.18
When they went up to £4.52 I thought I had been clever.
We all know what happened next.
I could have sold then and bought back almost a pound cheaper.
Including div I am finally back in profit.
Looking to better £4.52 to at least think I got it right( although I am aware I could have got it a lot righter( if that’s a word).
I would like to sell them at £5 .
Time will tell if this is going to be possible this time or not

It’s better to have a fat finger now than if you had been trying to buy BP and got the wrong share.
It’s amazing how often we all do it, and read through the post twice only to notice the mistake the second you post.Sometime I’m convinced that predictive text changes them just as you post

https://www.fool.com/earnings/call-transcripts/2022/08/03/bp-bp-q2-2022-earnings-call-transcript/
Well worth a read .
The main things I took from it were
Extra 0.7 billion being spent on- shore in America, near to markets.
More discoveries in Gulf of Mexico around producing hubs due to better seismic data
And the comment below which really says we will start to see earnings from some renewables soon.( some are already cash positive)
Incredible, the size and scale and pace of acceleration in this space. So, we're excited, as you can tell, about EV charging. It's one of our five growth engines. It's not the only one, but it's certainly one of the ones that's going to show up in an earnings sense this decade.
There are some other very clever bits like they have cut gas use in Europe
(refineries etc)by 50% to help free it for consumers without impact on the business .
Maybe that needs to get picked up by the media
There’s lots more so don’t take my word have a read.
It’s very upbeat

We are an easy target as everyone needs our products so if media sided with big bad oil it wouldn’t sell papers etc.
But we have all at some time paid over £2 for a 500 ml bottle of water.
That’s double what you pay for petrol.
The profits margins must be huge.
Big bad oil has done an amazing job at keeping world running for last 50 years.
If only politicians would learn about what really happened before the open their mouths.

As Baz says
It’s not just a case of being handed free shares.
You have to invest to be given anything.
Some did not invest as they thought there was a catch.
There came a point after about 7 years in scheme having bought about £4,500 pound worth at 1980s prices where I already had investment shares so did not need to buy every year, then I got £500 pounds of free shares each year
But that was a lot of money tied up at the time ( probably more than a years take home pay)
I could afford as was single and taking few holidays abroad.
The executive scheme is totally different

Charlie a nice summary
No matter how good the next 12 months doubt we can do any better than last 12 months, but it’s something to aim for.
One day it will finally be baked into sp ,they are performances that deserve some major sp movement

Whatever people think about the amount of div increase
We have went from same div till 2025
To 4% rise through to 2025
To a 10% rise.
At least for now the momentum is going in the right direction.
If they keep underestimating how well they are doing along with the analysts then thats good news.
It’s so much better than underperforming.
It may be good to gorge yourself on the buyback buffet until the market catches up.
Think however there may be a wave of sellers if this takes off past £4.50

Div roughly 6 c about 5 p at present exchange rate

Theaky I think you forget it’s the employees who are making these huge profits.
Many of them are not on massive salary as you know.
Their share scheme is not huge and if not granted anymore would just likely result in their salary going up by the same amount.
They are not a free lunch as you choose to imply.
Executive share schemes are a totally different animal

Just a bit of look ahead but already that’s almost a whole month of next quarter with oil price probably average about $100.
That’s a good start.
With the volatility we have been seeing would also hope for trading to be good.
Doubt Refining Margin can go up it’s more likely to drop a bit.
7 good months , maybe it takes a whole year to move markets.
Anyway roll on Tuesday

Zac
I’m sure you read what I said on buyback volume.
If I’m right which is a big IF.
Mega buybacks immediately after results will help rise sp a bit .
Hopefully more than last high, but the moment volume drops in buybacks ,the sp does not appear to have enough support at lower buyback volume.
Obviously there is still other noise going on with DOW and oil price.
That’s when I hope to sell a couple of thousand to rebalance my portfolio.
No guarantees but it might be a chance for some to get out if they want.
Then probably watch sp sail through £5 but that’s life.

Jmak
They have said 4% up to 2025 financed by the reduced share count. $60 dollar oil
What has never been said is what happens when share count reduction above 4%.
Or if oil price being massively higher has any effect.
This has left room for differing visions of the future.
That’s really all I am referring to.
I feel they must be ahead of plan with buybacks, but suspect sp is below what they predicted.
Waiting to see what they have to say next week.

Tinker timing wise it looks like Americans were expecting a decent div increase and didn’t get it ?
Or is it just profit taking.
I’ve no doubt it will start to move up a bit over the next few weeks as buybacks kick in
Lessons for BP communicate well so people know what to expect div wise.

https://www.bp.com/en/global/corporate/news-and-insights/press-releases/iberdrola-and-bp-to-collaborate-to-accelerate-ev-charging-infrastructure-and-green-hydrogen-production.html

Pass on best wishes to all your clan that I also know.
Those memories are still so fresh it’s always a surprise how long ago it was.
Was really not expecting that today, especially from a story .( think we have a few stories we better not share)
Hope you are all well.
Take care