BP p.l.c. (BP.L)

Based on my regression analysis using the average price of Brent crude, and assuming 3% of shares outstanding were retired in Q3, I forecast BP will report earnings of $2.05 per share for Q3.

BP earned $1.92 and $2.62 per share in Q1 and Q2, respectively. Therefore, I am estimating BP will have earned around $6.58 per share after the first three quarter of 2022. BP will certainly report 2022 earnings comfortably above $8 per share in 2022. 2023 will undoubtedly be equally impressive.

With a healthy dividend, aggressive share retirement and debt reduction, a PE ratio less than 4, and impressive reserves and infrastructure, BP stock offers an incredible investment opportunity. GLTA.

Reported: bp repurchased 475,538,047 ordinary shares in London
during the time frame 8/2/22 thru 10/3/22
Equivalent to 79,256,341 ADSs
Approximately 2.49% of outstanding shares

From the article:

Historically, OPEC has often cut production in the face of weakening demand, yet it has never implemented a cut in such a tight market, with inventories at historically low levels, record strong seasonal crude timespreads and with demand remaining resilient despite the macro headwinds.

https://www.zerohedge.com/markets/opec-taking-fed-and-goldman-buying-every-barrell-it-can-find

Reported: bp repurchased 463,771,769 ordinary shares in London
during the time frame 8/2/22 thru 9/30/22
Equivalent to 77,295,295 ADSs
Approximately 2.43% of outstanding shares

Reported: bp repurchased 438,606,198 ordinary shares in London
during the time frame 8/2/22 thru 9/28/22
Equivalent to 73,101,033 ADSs
Approximately 2.30% of outstanding shares

Reported: bp repurchased 475,538,047 ordinary shares in London
during the time frame 8/2/22 thru 10/4/22
Equivalent to 79,256,341 ADSs
Approximately 2.49% of outstanding shares