Member Info for meoryou

Think we seem to be in a
Heads I win
Tails they loose.
At the moment either sp continues to climb with pullbacks
Or sp retreats a bit and buybacks cancel even more shares for their cash.
The div rise is the big question.
I noted in the 90s when div went up 1 p sp went up £1 , this happened on at least 3 or 4 occasions. Not saying will repeat, saying I hope it repeats

BP p.l.c. (the "Company") announces that on 10 June 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 7,000,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 447.3000
Lowest price paid per Share (pence): 435.600
Volume weighted average price paid per Share (pence): 440.0079

I also don’t know how they think the WT will not put up petrol prices even more.
And also add to inflation

Don’t know if it’s still the same as used to be but all oil companies had by law to keep a certain reserve at all times .
They had to get permission from government to use some of this when there was a local supply problem.
I would suspect this is still the case.
I would believe this is our equivalent of Strategic Reserve.
A lot of Forties and other crudes went from here to help fill up American Reserves in the 80s

Announcement today

Payments of dividends in sterling = 4.3556 pence per share.

For payment on 24 th June

It’s unusual for Upstream, Downstream and Retail all to be able to make huge profits at the same time

Chandley
I suspect that oil prices will be back to somewhat normal in 12 months.
What does normal oil price look like?
If it’s 70 dollar plus then BP will still,be making lots of cash, just not as much as now.
I’m not sure that oil will come down that much as Russia will never be totally trusted by Europe again .

BP p.l.c. (the "Company") announces that on 9 June 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 7,000,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 455.9500
Lowest price paid per Share (pence): 449.550
Volume weighted average price paid per Share (pence): 452.850

I really struggle to know what a realistic sp will be.
It’s easy to feel that current sp is not fair value.
I can very easily see a sp of £5-£5.50 (and think that is close to a fair price) sometime soon ( if no big negatives appear).
However if it does keep getting better and better for BP what is realistic £7 or £8 or £10 or more .
I think if BP strategy does turn out to be correct( and yes it’s a big if) the sp in
5 years could be higher than we expect

Charlie I knew you were keeping an eye on things
Thanks for the summary

Baz
I echo that statement totally

BP p.l.c. (the "Company") announces that on 8 June 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 7,000,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 452.3500
Lowest price paid per Share (pence): 448.9000
Volume weighted average price paid per Share (pence): 450.4144
First average price above £4.50

https://www.proactiveinvestors.co.uk/companies/news/984393/is-the-oil-and-gas-sector-set-for-a-wave-of-private-equity-deals-984393.html

They never go up in straight lines so there will be a chance sometime.
It’s recognition that’s the hard part.
My prediction for what it’s worth ( nothing) would be after the div comes out end of month you may get a pull back
But by then who knows you may be pulling back from £4.75 .
We will see how well that stands the test of time

Theaky thanks for being worried for my safety, but when major d.i.y. going on you find it all over their front.
For information it’s a wee Westie who thinks she is a Rottweiler.

Just a few random thoughts
1) BP sp certainly has momentum behind it at moment.
Normally I would have worried about the possibility if we hit £5 something that a lot of people who were trapped by sp drop bailing out, but share buybacks will take care of that, and some will stay if it looks like rise will continue
2) although crude price seems to have been bouncing between 100 and 120 when you look at graph it’s still trending upward ( personally I’m happy if it doesn’t go any higher than 120).
3) we here a ot about cost of living crisis, and I am sure for some it’s very real,
but in ast few days while out with dog have noticed 6 different houses getting new monoblock drives, another 2 getting back gardens landscaped and another building new garage
I would consider them all discretionary spending and they are all in next streets to where I live.
My point being it looks like there is still cash out there( or credit)

BP-Shell Tandem The Only Bidder in Trinidad Licensing. The government of Trinidad and Tobago received bids for four of 17 deepwater blocks that it auctioned to halt a decline in gas production, with a consortium comprising BP (NYSE:BP) and Shell (LON:SHEL) making all the bids.

Theaky
I have no idea if majority of shareholders 1st priority would be reinstate div or buybacks.
But if you believe that the majority would prefer div reinstated why did you not get it in for vote at AGM.
I don’t know how you go about something like that , but would not have thought it that hard to try.
In some ways I think it would be good to know what majority wants in regards div, buybacks and renewables and possibly debt reduction .
But only as a one off as it would be chaos if we were consulted on everything

BP p.l.c. (the "Company") announces that on 7 June 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 7,500,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 449.20
Lowest price paid per Share (pence): 439.2000
Volume weighted average price paid per Share (pence. 444.6336

Someone with a lot of money to spend has taken a bullish stance on BP
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.com
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with BP, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 20 uncommon options trades for BP.
This isn't normal.
After that it’s all technical but if you want to look for yourself it’s on benzinga.com
Maybe someone who understands puts and calls can comment, but it appears positive to me