BP is an integrated oil and gas group based in the United Kingdom. Co. is engaged in the exploration and production of crude oil and natural gas; refining, marketing, supply and transportation; and the manufacture and marketing of petrochemicals. Co. operates globally, with business activities in Europe, the U.S., Canada, Russia, South America, Australasia, Asia and parts of Africa. Co. operates in two business segments: Exploration and Production - including oil and natural gas exploration and development and production; and Refining and Marketing- activities include the refining, manufacturing, supply and trading, marketing and transportation of crude oil, petroleum and petrochemicals.
  • TickerBP.
  • ISINGB0007980591
  • ExchangeLondon Stock Exchange
  • SectorOil & Gas Producers
  • CountryUnited Kingdom
Bruno Cavalier ...
  • Jerôme Bodin

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/21/2020

...

Bruno Cavalier ...
  • Jerôme Bodin

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/09/2020

Alors que Peugeot et FCA viennent de clore le débat autour des termes financiers de leur rapprochement, le fondamental devrait, enfin, revenir au premier plan à quelques mois de la naissance de Stellantis. Or, le potentiel de la nouvelle entité nous semble encore largement sous-estimé et la valorisation très faible, faisant de Peugeot et FCA aujourd’hui, Stellantis demain, les meilleures opportunités boursières sur le secteur. Nous réitérons nos opinions Achat et relevons nos OC à res...

Ahmed Ben Salem

BP : BP week feedback: green light for the transition

>A BP week to convince investors - The group held a BP week from 14 to 16 September, an investor event with senior management that aimed to provide details on the strategy presented on 4 August and to convince investors of its feasibility. BP plans to change its reporting to better reflect its new strategy, thus creating: 1/ an oil division; 2/ a gas and renewables division; 3/ a refining marketing and distribution division, and; 4/ an other business & corporate divis...

Ahmed Ben Salem

BP : BP week feedback – Feu vert pour la transition

>Un BP week pour convaincre - Le groupe a organisé un BP week du 14 au 16 septembre avec l’ensemble du top management dans le but de détailler sa stratégie présentée initialement le 4 août et convaincre les investisseurs de sa faisabilité. BP prévoit le changement de son reporting pour mieux refléter cette nouvelle stratégie qui verra l’apparition d’une 1/ division pour le pétrole, 2/ division pour le gaz et renouvelables, 3/ division pour le raffinage marketing et d...

Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/05/2020

In this report we analyse the notable differences between the published results of phase I tests for COVID-19 vaccines even though, at this stage, it is difficult to compare one trial with another. Phase I results have been positive overall, in terms of both safety (primary challenge) but also efficacy, with all recording the production of neutralising antibodies. We think that the results published by BioNtech and Moderna lend even greater credibility to the mRNA approach. We are sti...

Matthieu DRIOL

Analyse court terme - BP PLC : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, mais la tendance manque de puissance pour le moment. Le prochain support est à 534,03 p.

Matthieu DRIOL

Short term view - BP PLC : The trend is uncertain.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at 534.03 p.

Matthieu DRIOL

Analyse court terme - BP PLC : La tendance est incertaine.

La tendance est incertaine. Les cours baissent, et il y a une possibilité d'accélération baissière. Une nouvelle tendance baissière tente de démarrer.

Matthieu DRIOL

Short term view - BP PLC : The trend is uncertain.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

Matthieu DRIOL

Medium term view - BP PLC : The correction is gaining traction.

The background trend is clearly bullish. The correction is gaining traction. It is too early to qualify this action as a bearish reversal. The trend would be invalidated below the support at 534.28 p.

Oil & Gas: OPEC, Market is Wrong...!

Hiccup. While OPEC members have gone through several hiccups the past 43-years, however, total oil production is up by 10.3% from 1974. Ex-Iraq, oil production is up only by 2% from 1974. OPEC market share currently stands at an estimated 36% in July vs. 43% in 2016 and 51% in 1974. OPEC historical low market share was 27.6% in 1985.

Ahmed Ben Salem

BP : BP week feedback: green light for the transition

>A BP week to convince investors - The group held a BP week from 14 to 16 September, an investor event with senior management that aimed to provide details on the strategy presented on 4 August and to convince investors of its feasibility. BP plans to change its reporting to better reflect its new strategy, thus creating: 1/ an oil division; 2/ a gas and renewables division; 3/ a refining marketing and distribution division, and; 4/ an other business & corporate divis...

Ahmed Ben Salem

BP : BP week feedback – Feu vert pour la transition

>Un BP week pour convaincre - Le groupe a organisé un BP week du 14 au 16 septembre avec l’ensemble du top management dans le but de détailler sa stratégie présentée initialement le 4 août et convaincre les investisseurs de sa faisabilité. BP prévoit le changement de son reporting pour mieux refléter cette nouvelle stratégie qui verra l’apparition d’une 1/ division pour le pétrole, 2/ division pour le gaz et renouvelables, 3/ division pour le raffinage marketing et d...

Ahmed Ben Salem

BP : BP announces a clear strategy in renewables – cut to the dividend but the new payout policy is reassuring

>Results a shade above forecasts - The Q2 2020 adjusted operating result came to -$ 7.449bn, 4.3% higher than forecast, and the adjusted net result of -$ 6.682m was 1.3% higher than the consensus. Results by division were in line with expectations on the whole with a positive surprise in downstream thanks to trading, as at rivals. BP booked $ 16.6bn in charges after tax, in line with the guidance of $ 131e17.5bn split between $ 8.5bn in impairment charges and $ 8.1bn i...

Ahmed Ben Salem

BP : BP annonce une stratégie claire dans les renouvelables – Dividende en baisse mais la nouvelle politique de distribution est rassurante

>Résultats légèrement supérieurs aux attentes - Le RO ajusté au T2 2020 ressort à -7.449 Md$, 4.3% supérieur aux attentes et le RNpg ajusté à -6.682 M$ est 1.3% supérieur au consensus. Les résultats par division étaient en ligne dans l’ensemble avec une bonne surprise dans le Downstream grâce au trading comme c’était le cas chez ses concurrents. BP a passé 16.6 Md$ de charges après impôts, en ligne avec la guidance de 13-17.5 Md$ répartis entre 8.5 Md$ en impairment e...

Ahmed Ben Salem

BP : Q2 2020 results in line – 50% dividend cut deeper than expected

>Results almost in line – dividend cut deeper than expected - Adjusted EBIT came in at -$ 7,449m and 4.3% below consensus (ODDO BHF: -$ 8,698m, consensus: -$ 7,780m).The group incurred a net adjusted loss of -$6,682m and 1.3% above the consensus (ODDO BHF: -$ 7,568m; consensus: -$ 6,770m). Effective tax came in at 9% vs 55% in Q1 2020.Upstream: adjusted EBIT came in at -$ 8487m, in line with ODDO BHF and below the consensus (ODDO BHF -$ 8,468m; consensus -$...

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Tesco, German 5G Auction, Italgas and BP

Tesco 1Q19/20: growth slows against strong comparable. 2023 bond offers value

ING
Nadège Tillier

BP World Energy Statistics/2018 energy consumption up, carbon emissions as well

Following its 2019 Energy Outlook published in February, BP delivered its Statistical Review of World Energy today, providing statistics for full year 2018. Primary energy consumption grew again in 2018, driven by renewables and natural gas. The world also consumed more oil (+1.2% vs 2017) with the Asia Pacific region (+3%), notably Vietnam (+5.8%) and China (+5.1%), showing the biggest surge. A direct consequence of the higher energy demand, worldwide carbon emissions also went up (+2%), despite the Paris Agreement and an overall higher awareness of climate issues.

Bruno Cavalier ...
  • Jerôme Bodin

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/21/2020

...

Bruno Cavalier ...
  • Jerôme Bodin

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/09/2020

Alors que Peugeot et FCA viennent de clore le débat autour des termes financiers de leur rapprochement, le fondamental devrait, enfin, revenir au premier plan à quelques mois de la naissance de Stellantis. Or, le potentiel de la nouvelle entité nous semble encore largement sous-estimé et la valorisation très faible, faisant de Peugeot et FCA aujourd’hui, Stellantis demain, les meilleures opportunités boursières sur le secteur. Nous réitérons nos opinions Achat et relevons nos OC à res...

Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/05/2020

In this report we analyse the notable differences between the published results of phase I tests for COVID-19 vaccines even though, at this stage, it is difficult to compare one trial with another. Phase I results have been positive overall, in terms of both safety (primary challenge) but also efficacy, with all recording the production of neutralising antibodies. We think that the results published by BioNtech and Moderna lend even greater credibility to the mRNA approach. We are sti...

Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/08/2020

Nous analysons ici les différences notables entre les phases 1 publiées sur le vaccin contre la COVID-19, bien qu’il soit, à ce stade, délicat de comparer une étude à une autre. Les résultats de phase 1 sont dans l’ensemble positifs en termes de sécurité (enjeu premier) mais aussi d’efficacité avec la production, pour l’ensemble, d’anticorps neutralisants. Nous croyons que les résultats de BioNtech et Moderna crédibilisent d’autant plus l’approche à ARNm. Nous maintenons notre recomma...

Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/04/2020

...

Increased risk weighs on BP PLC., penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of BP PLC. (GB), active in the Integrated Oil & Gas industry. As regards its fundamental valuation, the title still shows 2 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date April 17, 2020, the closing price was GBp 303.55 and its target price was estimated at GBp 274.30.

Philip Morrish

Value Indicator - UK Basic Resources 30122019

Currently '(TM)Value Indicator - UK basic resources' is a value analysis fof the Basic Resources super sector of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 30122019

Currently '(TM) Value Indicator - Main Market' is a value analysis of the Basic Resources, Construction & Materials, Telcoms and Utilities sectors of quoted companies on The London Stock Exchange's Main market that provides the user with indicative long-term trading indicators and indicative target prices. The publication is also available on request at

Philip Morrish

Value Indicator - UK Basic Resources 23122019

Currently '(TM)Value Indicator - UK basic resources' is a value analysis of the Basic Resources super sector of quoted companies on the London Stock Exchange's main market that provides the reader with longer-term target prices.

Philip Morrish

Value Indicator - UK Main Market 23122019

Currently '(TM)Value Indicator - UK main market' is a value analysis of the Basic Resources, Construction & Materials, Telecoms and Utilities sectors of quoted companies on the London Stock Exchange's main market that provides the reader with indicative longer-term tagrte prices.

Expert Corporate Governance Service (ECGS)

BP – AGM 27 May 2020

Items 1 and 12:   In response to a global crisis, BP has dramatically reduced spending to back a 65% drop in oil prices in the first quarter 2020. BP slashed its 2020 budget by 25% to around $12bn and reduced output at its U.S shale operations. However, BP has not reduced its dividend which we consider unsustainable: the payout is excessive, the dividends often are not covered by EPS and/or FCF. This year, BP proposes a total dividend of $8.3bn, which will be financed by increased debt (+$2.6bn in 2019 with a further increase in 2020), divestments and budget reductions. Its competitors privi...

Expert Corporate Governance Service (ECGS)

BP - AGM 21 May 2019

Item 22:  To request that the Board report to shareholders on the strategy to be consistent with the goals of the Paris Agreement The proposal has been filed by Climate Action 100+ (CA100+) with support from the environmental law group Client Earth. Shareholders may wish to note that the coordinator of CA100+ is the Institutional Investors Group on Climate Change (IIGCC), which is the current name of the former “Aiming for A”coalition. At the 2015 AGM, a climate change resolution submitted by Aiming for A reached 98% support at BP.  CA100+ proposes that the Company include a description of t...

BP PLC – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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