BP) share price

2023 - 2 - 7

Post cover — Image courtesy of "CMC Markets"

Record profits give BP share price a lift (CMC Markets)

Underlying replacement cost profit came in at $4.8bn in Q4, a step down from Q3's $8.15bn, due to underperformance in its oil and gas trading division, but has ...

This also explains why BP has slowed its plans to cut oil and gas production to a 25% drop by 2030, down from 40%. Of course, all of this will be for nought if governments don’t invest in the energy infrastructure to support all of these new technologies. All in all today’s numbers are another record number for the big oil majors, and will inevitably attract the usual headlines of obscene profiteering from the usual suspects, however we do appear at last to be seeing the likes of BP starting to push back on the prevailing narrative, by saying that new gas resources will be needed to help the energy transition. BP raised the Q4 dividend to 6.61p, taking the total dividend for the year to 24.08p, as well as adding another share buyback for Q1 of $2.75bn. Total capex for the upcoming year is expected to come in between $14bn and $18bn, and is expected to continue at that rate until the end of the decade. Underlying replacement cost profit came in at $4.8bn in Q4, a step down from Q3’s $8.15bn, due to underperformance in its oil and gas trading division, but has still pushed total profits for the year of $27.65bn, a big jump from the $12.8bn in 2021.

Earnings: BP shares are a steal at 490p (Motley Fool UK)

After BP reports the highest profits in its 114-year history, Andrew Mackie explains why he believes that its share price is still as cheap as chips.

A clear risk of investing in BP is that the world could well have passed peak oil. What I disagree on is the timeframe. If a company in the tech space was generating the kind of profits that BP announced today, its share price would be trading at many multiples of what it is today. The cost of capital is rising. The fact that it isn’t, is partly as a result of where most capital is being deployed today. If oil stocks continue to outperform, I foresee an eventual stampede of capital into the space. The excess froth might have come off Big Tech stocks, but investors continue to buy the dip believing them to be a bargain. This metric is key to shareholders as the company is committed to returning 60% of surplus cash flows via share buybacks. Like its peer Shell, profits were the best in its 114-year history. Underlying profit more than doubled to $27.7bn. Revenues increased by 50% to $280bn. [LSE:BP](https://www.fool.co.uk/tickers/lse-bp/)) to report.

BP Posts Record Profits In 2022. Should You Buy Its Shares Today? (Forbes)

BP shares look extremely cheap on paper. They trade on a forward price-to-earnings (P/E) ratio of 5.7 times. A FTSE 100-beating 4.4% dividend yield adds an ...

This is the same as it plans to fork out on greener sources of energy. Finally, oil-focussed companies like BP face long-term problems as the transition to green energy continues. Ongoing supply concerns could support black gold prices as long as the war in Ukraine persists. A hike in household energy bills in April will raise calls still further. Last week Shell recorded record adjusted earnings of $39.9 billion for 2022. Operating cash flow at BP meanwhile soared to $40.9 billion in 2022 from $23.6 billion a year earlier. But I believe the company’s current valuation reflects the high level of risk it still faces. This was down sharply from $8.2 billion in the previous three months. It also declared plans to repurchase $2.75 billion worth of shares. Oil sector earnings have ballooned following the invasion of Ukraine. with buybacks and a growing dividend. Prices settled back during the final quarter, however.

FTSE 100 lifts as BP share price hits two-year high (Evening Standard)

London's leading index jumped by 0.36% on Tuesday, helped up by gains of more than 7% for FTSE 100-listed oil giant BP.

The S&P 500 was up 0.1% and Dow Jones was down by 0.2%. He added: “What was also notable was that BP slowed its plans to cut oil and gas production to a 25% drop by 2030, down from 40%. Over in the US, it was a mixed start to trading ahead of Federal Reserve chair Jerome Powell set to speak at the Economic Club of Washington. Michael Hewson, chief market analyst at CMC Markets UK, said: “It’s been a mixed session for markets in Europe with the FTSE 100 outperforming due to a strong performance from the oil and gas sector, after BP announced a record set of full year numbers which has seen the shares rise to their highest levels since January 2020.” “Shell shares are also seeing decent gains on the back of these numbers as well as a rebound in oil prices.” [European](/topic/european) markets with the domestically-focused FTSE 250 dropping by more than 1%, amid news from the [Government](/topic/government) of a fresh shake-up of its departments. Meanwhile, it was a turbulent day for the pound which dropped below 1.2 against the US dollar for the first time since the start of the new year. It comes as the company revealed it would hand around 4.4 billion dollars to shareholders in a full-year dividend, after profits hit record highs last year as the business benefitted from skyrocketing oil and gas prices. BP surged to the top of the index with gains of more than 7%, taking its share price to its highest level in more than two years. When European markets closed, it was down by around 0.1% to 1.202 US dollars, but up by 0.2% to 1.1227 euros. London’s leading index had surged to a record high on Friday, but backtracked at the beginning of the week as investor optimism wavered. he FTSE 100 has lifted back up as investors poured money into BP after the oil giant unveiled bumper profits which it plans to pass onto shareholders.

BP share price rises as profits hit record high in 2022 (FOREX.com)

BP said it is raising returns for shareholders and rebalancing investment between oil and gas and its cleaner energy projects.

The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. BP said the accelerated investment into cleaner energy, plus a sharpened focus on oil and gas projects that offer a faster payback, should lead to faster earnings growth. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. That is important considering BP is trying to close the gap after lagging some of its rivals in terms of returns in recent years. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. The stock is on the verge of testing the 497.50p level of resistance that we have seen over the past four months. A move higher would allow it to target 561p level of resistance we saw for the five months to July 2019. However, back in 2020, BP said production would be some 40% lower by the end of this decade. BP has made big waves in this space, having bought US biogas outfit Archaea Energy and advanced multiple hydrogen projects in the likes of Australia, Abu Dhabi, Egypt, Oman and Mauritania. Meanwhile, around 60% of surplus cashflow will be used to fund buybacks with the other 40% being used to repay debt, which should see BP repurchase around $4 billion worth of shares each year at that oil price, with more cash on the cards if oil prices remain significantly above that level. That was up over 18% from last year, although fell short of the $5.1 billion forecast by markets and marked a significant drop from what we saw in the third quarter thanks to softer commodity prices, weaker refining margins and tougher conditions for its gas trading arm. BP has raised its quarterly dividend by 10% to 6.61 cents and launched a new share buyback worth $2.75 billion.

BP share price cruised past key hurdle after earnings: be careful (Invezz)

BP share price did well on Tuesday after the company published strong financial results. The shares jumped by over 5% to a high of 509.

On the weekly chart, BP stock price made a strong bullish breakout above a level it has struggled to rise above for weeks. It has also risen to the 78.6% Fibonacci Retracement level. Another main reason why the BP share price surged is the company’s scaling down of its clean energy investments. [Energy](https://invezz.com/news/commodities/energy/) companies had a strong year in 2022, helped by high oil and [natural gas](https://invezz.com/news/commodities/energy/natural-gas/) prices following Russia’s invasion of Ukraine. The shares jumped by over 5% to a high of 509p, the highest level since November 2019. The company also said that it will repurchase $2.75 billion worth of shares.