The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Last few days there’s been no buybacks. That means all the funds for this buyback are unlikely to be spent this quarter meaning there’ll be a build in funds with the new q4 buyback funds.
Interesting to see when they’ll start buying again.
I must admit I was originally going to ‘settle’ for £3.30 as my average was £2.57 having already realised a hefty profit from avg £2.15.
However, with things as they are now won’t be taking anything less than £3.50 (feel it will hit £4 and over but I’m not greedy). 26k shares and holding.
Shame I sold £10k worth at 3.21 but hey ho
I trimmed my holding by 10k at £3.20.8 just in case there is a drop ( I don’t expect one).
I do however still have the equivalent of £85,000 still on bp at over 25k shares to benefit in this hitting at minimum of £3.60 within the end of the year.
Slight trimming to benefit from any swing but if no swing I will still benefit massively.
Us BP holders will see true value reflected soon IMO.
Having an incling that Bp may slip another small Dividend increase in the quarter update.
I say that because with base assumptions of $1 billion buybacks a quarter at $60 oil the level of buyback needed for 60% of profit is for me too high.
They may therefore balance it out with a $1.5 billion buyback and small increase.
Given they review it each quarter as per results
Well their looking to exit sea lion.
Either a bold strategy to aquire Rkh or they just don’t think it will ever happen.
Aside from that bland set of results and income lower than I was expecting tbh.
“A better approach for investors might be to reflect that Orsted (ORSTED.CO), which trades at around 40 times next year’s estimated earnings, was in a similar funk a decade ago. The company formerly known as Dong Energy at the time was wrestling with an S&P credit downgrade and questions about its pivot from fossil fuels to wind power. Its CEO and chairman had also just had a bust-up that saw the former leave.
Looney may have one more factor in his favour. Increasingly, sustainable investors are moving away from just dumping so-called sin stocks in favour of engaging with managers to force change. Those who took the plunge when Dong Energy listed in 2016 have seen their shares more than triple. Following that logic, the smart trade may be to bet on BP over Orsted“
https://youtu. be/A5xH9dmGd-U
That’s the video
Quick review of a news video from 1977 shows that before that point the ‘average’ person was paying 19p in every pound.
Far below the headline 83% tax. As with everything there’s other points to consider. Aka tax now is 20% & 13% NI however there are allowances that mean you don’t acc pay that figure.
Russia has sent gas prices in europe surging 10% after failing to raise it’s gas transited theough Ukraine. It’s only taken up 1/3 of the capacity and it looks like Europe is in for a rough winter! High gas prices are here to stay.
Raises an interesting proposition given there’s meant to be another minimum of 1billion buyback Q3 (likely to be at least 1.5 though).
At the rate allowed i.e 25% of daily volume we’d just build a bigger and bigger buyback pot not being spent. Wonder what they’d do at that point a tender offer to buy shares directly? anyone know.
2 November so a just over a month to go.
With oil, gas & refining margin as they are it should be a whopper even taking into account the gulf of mexico days out.
As per BP trading update to 15th september Q3 oil up $4 on Q2 gas $1.2 & refining margin $1.3
Should be easy conservative extra Billion over Q2 results. if not 1.5
Important to remember BP will be able to do a buyback of $1billion a quarter at $60 oil.
So, regardless of the drop in oil to $66 there’s very little change here.
Add into that the renewables pipeline we have that’ll start coming on stream in the coming years you have a winner.
Eventually there’ll be no more shares to buy… okay a little while off on that haha