BP : Q1 results in line, good operational performance but valuation in line
>Net profit 1.2% higher than forecast - Adjusted operating profit was $ 4.797bn, i.e. -23.7% q-o-q/+2.5% y-o-y and 5.7% above the consensus. Adjusted attributable net profit was $ 2.358bn, 1.2% above the consensus with an effective tax rate of 40%, perfectly in line with guidance for 2019. Upstream in line, favourable operational momentum - Adjusted operating profit was $ 2.928bn, down -24.7% q-o-q/-7.3% y-o-y and in line with forecasts. The unit ma...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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