|Bid||305.30 x 0|
|Ask||305.45 x 0|
|Day's range||302.85 - 310.15|
|52-week range||4.69 - 563.00|
|Beta (5Y monthly)||0.59|
|PE ratio (TTM)||N/A|
|Earnings date||04 Aug 2020|
|Forward dividend & yield||0.34 (10.59%)|
|Ex-dividend date||07 May 2020|
|1y target est||7.99|
B&G Foods, Boot Barn, Royal Dutch Shell, TOTAL and BP highlighted as Zacks Bull and Bear of the Day
BP is more than halving the size of its senior management team as part of Chief Executive Bernard Looney's drive to make the 111-year-old oil company more nimble as it prepares for the shift to low-carbon energy. In May 14 emails to staff seen by Reuters, Looney named over 100 so-called Tier 2 managers who will form the leadership teams of the 11 divisions he created in February to "reinvent" BP and move away from its traditional structure of upstream and downstream units. For example, Starlee Sykes, who remains head of production for the Gulf of Mexico and Canada, is now two steps removed from Looney whereas before it was three.
The coronavirus pandemic has indelibly impacted the global energy sector. Although the demand for oil has noticeably dropped and prices have plunged, the pace of shift to renewable energy from fossil fuel is still uncertain.
The Bp (LON:BP.) share price has risen by 3.49% over the past month and it’s currently trading at 307.2. For investors considering whether to buy, hold or sell...
The Zacks Analyst Blog Highlights: EOG Resources, Occidental Petroleum, ExxonMobil, Chevron and BP
Royal Dutch Shell's historic 66% dividend cut has paved the way for its British rival, BP (NYSE: BP), to secure the crown as the oil major with the highest dividend yield. BP management recently reaffirmed their decision to keep the quarterly dividend unchanged as of Q1 2020, meaning BP's dividend yield stands at a whopping 11.3% as of this writing.
London's FTSE 100 rose on Friday after two straight days of losses as a jump in China's factory output for the first time in 2020 powered miners and oil and gas producers, while investors remained cautious about a looming coronavirus-fuelled recession. The commodity-heavy FTSE 100 was up 1.2%, with BP Plc and Royal Dutch Shell Plc providing the biggest boost. The mid-cap FTSE 250 rose 1% with data showing China's industrial production climbed a faster-than-expected 3.9% in April as the country returned to work after months of coronavirus-induced lockdowns.
The Russian government has extended a contract for Igor Sechin, a close ally of President Vladimir Putin, to stay as the chief executive officer of giant oil producer Rosneft for five more years, Vedomosti daily reported on Wednesday. The daily, citing three people familiar with the situation, said the government signed the order to extend Sechin's contract a few days ago. Sechin, known for his criticism of the Organization of the Petroleum Exporting Countries, has been the CEO of the company since 2012.
Shareholder activists prodding Exxon Mobil Corp on climate-change proposals are backing calls for an independent board chairman as the oil major steps up efforts to keep climate proposals off its ballot. New York state's pension fund, Church Commissioners for England, and Legal & General Investment Management, which all battled Exxon over global warming and lobbying disclosures have this year taken up a call to split the chief executive officer and chairman roles, expecting a better reception from an outsider. "The company has been a laggard on financial performance, climate risk management and lobbying disclosure for quite some time now," said Thomas DiNapoli, New York state comptroller and head of the state's biggest pension fund.
Shares in Norway's Odfjell Drilling rose on Wednesday after it more than doubled quarterly net profit, standing out in a depressed offshore oil and gas market. The company, which operates floating rigs able to drill in harsh environments such as the North Sea, said it has been shielded by its order backlog and close relationships with leading producers such as BP and Equinor. Odfjell's shares rose 6.6% by 1000 GMT, outperforming a 1.6% decline for the broader European oil and gas index.
Russian state oil giant Rosneft plans to build a port with maximum annual capacity of 115 million tonnes of oil for its Vostok Oil project in the Russian Arctic, the RIA news agency quoted the company as saying on Tuesday. Rosneft said in a statement previously on Tuesday that the Vostok Oil project could be supplying 25 million tonnes of oil in 2024, 50 million tonnes in 2027 and up to 115 million tonnes in 2030.
Saudi Aramco's debt is expected breach target levels as an oil price collapse triggered by the coronavirus forces it to borrow to meet the world's largest dividend pledge and buy a major stake in petrochemicals maker SABIC, analysts said. Compared with western oil companies, Saudi Arabia's national oil company appears in robust financial health.
BP <BP.L> said on Tuesday that oil output at its projects in Azerbaijan declined to 524,000 barrels per day (bpd) in the first quarter of 2020 from 571,000 bpd a year earlier. Associated gas output at the Azeri-Chirag-Guneshli (ACG) oilfields was 7.9 million cubic metres in the quarter, up from 5.2 million cubic metres a year ago, the BP-led consortium said in a statement. The consortium said it spent about $150 million in operating expenditure and $522 million in capital expenditure on its operations at ACG oilfields in the first quarter.
BP announced some very ambitious climate goals at its latest earnings call, but reaching these goals will mean a complete strategic overhaul and possibly lower yields for investors
BP Plc <BP.L> has won Australian government backing for a feasibility study into producing hydrogen using wind and solar power to split water and converting the hydrogen to ammonia in Western Australia. The Australian Renewable Energy Agency said on Friday it would provide A$1.7 million ($1.1 million) toward the A$4.4 million feasibility study, part of a push by the government to make the country a major producer of hydrogen by 2030. BP expects to complete the feasibility study in early 2021 on whether to build a pilot plant in the town of Geraldton to produce 20,000 tonnes a year of ammonia and later a commerical-scale facility capable of 1 million tonnes.
Oil and gas output from some of the world's top oil companies is set to drop by over 12% in the second quarter of 2020 to levels not seen in at least 17 years, according to Reuters calculations. The output cuts are driven by an unprecedented drop in oil consumption due to coronavirus-related movement restrictions that have led to a surge in supplies and a collapse in crude prices to levels not seen in more than two decades. Four of the top publicly-traded oil and gas producers, known as oil majors, have in recent weeks outlined plans to sharply reduce production from Iraq to the shale basins in the United States.
BP will not be on the judging panel for the National Portrait Gallery's upcoming portrait award for the first time in more than 20 years. It comes following growing pressure from climate change protesters on arts venues with links to oil companies. Last year, Extinction Rebellion activists targeted the gallery's portrait award exhibition, with protesters covering themselves in fake crude oil.
One thing we could say about the analysts on BP p.l.c. (LON:BP.) - they aren't optimistic, having just made a major...
BP shares have fallen after Shell's dividend cut. But as Roland Head explains, BP's 10% dividend yield could still be safe.The post BP shares yield 10%, but I'm not buying after Shell's dividend cut appeared first on The Motley Fool UK.
The BP dividend has been saved while the Royal Dutch Shell dividend is for the chop. Which company has made the best decision? The post The great Shell vs BP dividend debate! Which share price will recover quickest? appeared first on The Motley Fool UK.
Shareholders might have noticed that BP p.l.c. (LON:BP.) filed its first-quarter result this time last week. The early...
Even with the oil price falling, Jonathan Smith writes why he thinks the BP share price is a promising buy right now.The post 3 reasons why the BP share price is my favourite oil stock to invest in right now appeared first on The Motley Fool UK.