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BP p.l.c. (BPAQF)

Other OTC - Other OTC Delayed Price. Currency in USD
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4.6000-0.1250 (-2.65%)
As of 02:43PM EDT. Market open.
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  • N
    Nasir
    Hold on for £6 per share after Q2 results
  • G
    Garrett
    Euro oil shares are rallying, almost certainly due to Exxon's earnings pre-announcement. For those that didn't see the news, XOM Q2 profit will be $8 BILLION higher than Q1 (which was near a record profit for the company). This is mainly due to higher oil & gas prices and higher refining & retail margins. Don't know why this would come as a surprise to anyone.
  • r
    rob
    Goldman Sachs keeps its buy rating on bp with target price GBp 6.1 or
    around $45 ADR (current conversion).
    IMO, I expect that target price to be increased after a couple of strong earnings
    releases.
  • r
    rob
    Per WSJ: Average analysts estimated earnings for bp increased to $7.09 for 2022.
    Analysts need to increase it or be wrong assuming Brent oil price above $110.
  • J
    J
    Why can’t this stock get back to pre pandemic price? I truly don’t understand, oil is over a 100 a barrel
  • r
    rob
    Reported: bp repurchased 391,121,715 ordinary shares in London
    during the time frame 5/3/22 thru 7/4/22.
    Equivalent to 65,186,953 ADRs
    Approximately 2.00% of outstanding shares
  • G
    Garrett
    $27 is now the ceiling. That was quick.
  • P
    Paul
    There you got your dividend increase.
  • D
    Darren
    time for BP to double down on those buybacks, and take full advantage of the price.
  • G
    Garrett
    BP back under $28. All US oil majors are trading UP this morning, but BP is down again.
  • r
    rob
    Chevron's CEO doesn't expect another oil refinery to be built in the U.S.
    IMO, the only way to reduce gasoline and diesel prices is to reduce demand.
  • D
    Doug
    The average price for Brent crude in Q2 was $111.91 per barrel. For comparison, average Brent prices for Q2 2021, Q3 2021, Q4 2021, and Q1 2022 were $69.08, $73.19, $79.67, and $98.09 per barrel, respectively. With today being the first day of Q3, the table is set for yet another quarter of higher crude prices. However, BP doesn’t need ever higher prices as incredibly profitable over $100 per barrel oil.

    With the average Q2 Brent price at $111.91, my linear regression forecast predicts BP will earn $2.44 per share. By comparison , the highest analyst earnings estimate for Q2 is $2.67 per share. My forecaster computes that the average Brent price needed to reach that level of earnings would be $117.90. Likewise, the average analyst estimate for Q2 at $1.85 would corespondent to the average Brent price of $96.03. The average analyst is way too low in his estimate of BP Q2 earnings.

    For Q3, the current high analyst earnings estimate is $2.31 per share, corresponding to an average Brent price of $108.31 per barrel per my forecaster. The average analyst earnings estimate for Q3 at $1.74 corespondents to an average Brent price of $93.09. Earnings estimates for Q3 are also way too low.

    By the way, my linear regression forecaster predicts BP breaks even at a Brent crude price of $46.65. In the second half of last year BP stated it needed an average of $45 Brent, $3 natural gas, and $13 refinery margins. So my forecaster is definitely in the ball park.
  • r
    rob
    Per proactive: Jefferies analyst indicated bp may possibly boost the size of its US$2.5bn share buy-back programme by 50%. IMO, sharply higher cash flow doesn't deserve a neutral rating.
  • b
    blondie
    Something is fundamentally wrong somewhere with this company. How can, with all the increase in oil prices and profits(regardless of the windfall tax); then the stock price seems to be going in the opposite direction compared to any other oil majors out there.
  • D
    Dean
    There was no good reason to cut the dividend a couple of years ago. Who knows what looney was thinking. Exxon and Chevron never cut their dividend, so people are move likely to buy their stock.
  • D
    Darren
    its like being in an slow motion train crash being invested in BP.
  • r
    rob
    Reported: bp repurchased 354,621,715 ordinary shares in London
    during the time frame 5/3/22 thru 6/27/22.
    Equivalent to 59,103,619 ADRs
    Approximately 1.82% of outstanding shares