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LON100:BP, Jun 06, 08:06 UTC

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Hedge Funds Cashing Out Of BP plc (BP)

BP BP

Video: Watch our video about the top 5 most popular hedge fund stocks. So, why do we pay attention to hedge fund sentiment before making any investment decisions? Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 51 percentage points since March 2017 (see the details here). Unfortunately BP wasn't nearly as popular as these 10 stocks (hedge fund sentiment was quite bearish); BP investors were disappointed as the stock returned -2.6% during the second quarter and underperformed the market. If you are interested in investing in large cap stocks with huge upside potential, you should check out the top 10 most popular stocks among hedge funds as most of these stocks already outperformed the market in 2020.

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Is the BP share price on the road to recovery?

BP BP

Over the past month the BP plc (LON:BP) (BP.L) share price has risen by around 5%. Although that’s positive news in my opinion after a tough period for the oil and gas sector, the company’s shares are behind the FTSE 100’s 8% gain over the past month. Equally, it may struggle to make share price gains if supply cuts fail to gain traction, or if consumer confidence is weak across many of the world’s major economies. Oil prices dropped to exceptionally low levels last month, and it wouldn’t surprise me if they declined in the next few months should the economy’s reopening prove to be a disappointment in terms of demand levels. Therefore, I’m cautious about the outlook for the oil and gas sector. Consumer sentiment seems to be irreversibly shifting towards being kinder to the planet, which is not good news for oil and gas companies such as BP to my mind.

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BP agrees to sweeten sale of North Sea assets to Premier Oil

BP BP

Under the new deal, Premier only has to pay $115 million out of the initial price of $625 million if oil prices, which have slumped around 40% this year and currently stand at around $40 a barrel, rise above $55 a barrel. Under the deal, which is effective from January 2019, BP will retain the $300 million the North Sea fields generated throughout 2019, bringing the cash payment due to the British oil major down to around $210 million. To fund the acquisition, Premier said it would issue 82.2 million new shares to activist investor ARCM at a price of 26.69 pence each, a 9.64% discount to the volume-weighted average price over the last five days. Meanwhile, Premier will have to go through a new formal process over the coming weeks to extend its debt maturities from May 2021 into late 2023 as envisaged under the initial BP deal.

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Thursday, June 04


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Analysts optimistic on Bp outlook

BP BP

share price has risen by 12.9% over the past month and it’s currently trading at 335.0709. For investors considering whether to buy, hold or sell the stock, the question now is whether this price run will continue. According to the company’s analysts, there are certainly reasons to think it will continue to perform well in the year ahead. At its current price of 335.0709, shares in Bp are trading at a discount of -39.7% to its 52 week high price. The 1-year performance of the shares has been -37.7%. While analyst forecasts can be a useful guide to what City 'experts' think about a stock's near term future, they can be unreliable.

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Wednesday, June 03


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BP evacuating offshore workers, cutting Gulf of Mexico production due to storm

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Visit our Privacy Policy to learn more or manage your personal preferences in our Cookie Consent Tool. BP evacuating offshore workers, cutting Gulf of Mexico production due to storm. (Reuters) - BP Plc (BP.L) began evacuating workers from offshore operations in the U.S.-regulated Gulf of Mexico on Wednesday because of the threat from Tropical Storm Cristobal, which is expected to strike the Louisiana coast by Sunday, the company said. BP was cutting production at its Thunder Horse, Atlantis and Na Kika platforms because of Cristobal, the company said in a statement posted on-line.

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BP cuts Gulf of Mexico output, evacuates workers as storm approaches

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BP cuts Gulf of Mexico output, evacuates workers as storm approaches. HOUSTON (Reuters) - BP Plc <BP.L> began turning off production at three platforms in the northern Gulf of Mexico and evacuating workers because of the threat from Tropical Storm Cristobal, forecast to make landfall in Louisiana over the weekend, the company said. Norwegian state-oil company Equinor ASA <EQNR.OL> began evacuating non-essential workers on Wednesday and plans to shut production on Friday at its Titan oil platform if the storm continues along its projected path, spokesman Hasting Stewart said. Occidental Petroleum Corp <OXY.N> also began flying non-essential workers to shore from central Gulf of Mexico operations, but production was continuing uninterrupted, the company said on Wednesday. Other Gulf of Mexico operators, including Chevron Corp <CVX.N>, Exxon Mobil Corp <XOM.N>, BHP Petroleum, Royal Dutch Shell <RDSa.L> and Hess Corp <HES.N> said on Wednesday they are monitoring the storm but have not evacuated workers so far.

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Russia's Rosneft says BP chief Looney approved to board of directors

BP BP

Russia's Rosneft says BP chief Looney approved to board of directors. Reuters{{day}} {{monthName}} {{year}}, {{hourTwoDigit}}:{{minuteTwoDigit}}. MOSCOW (Reuters) - Russian largest oil producer Rosneft said on Wednesday that the head of BP <BP.L>, Bernard Looney, has been approved as member of its board of directors by the annual meeting of shareholders. Robert Dudley, Looney's predecessor, has remained on the Rosneft's board, where he has worked since 2013. BP owns nearly a fifth of Rosneft, its biggest foreign investment and the source of a third of its total output. What to read next.

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Arco Platform Limited Announces Pricing of Public Secondary Offering of Class A Common Shares

BP

SÃO PAULO, Brazil, June 03, 2020 (GLOBE NEWSWIRE) -- Arco Platform Limited, or Arco (ARCE), announced today that it priced an underwritten public offering of 5,563,203 Class A common shares offered by General Atlantic Arco (Bermuda), L.P. and Alfaco Holding Inc. (the “Selling Shareholders”), at a public offering price of US$47.70. Goldman Sachs & Co. LLC and Itau BBA USA Securities, Inc. are acting as underwriters in this public offering. The final prospectus supplement and the accompanying prospectus will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov, copies of which may be obtained, when available, from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, or by emailing prospectus-ny@ny.email.gs.com; or Itau BBA USA Securities, Inc., 767 Fifth Avenue 50th Floor, New York, New York 10153, Attention: Equity Sales Desk, telephone: 1-212-710-6756 or by emailing roadshowdesk@itaubba.com. These forward-looking statements speak only as of the date hereof and are based on Arco’s current plans, estimates of future events, expectations and trends that affect or may affect our business, financial condition, results of operations, cash flow, liquidity, prospects and the trading price of our Class A common shares, and are subject to several known and unknown uncertainties and risks, many of which are beyond Arco’s control. As a consequence, current plans, anticipated actions and future financial position and results of operations may differ significantly from those expressed in any forward-looking statements in this press release.

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Tuesday, June 02


News

Arco Platform Limited Announces Proposed Public Secondary Offering of Class A Common Shares

BP

SÃO PAULO, Brazil, June 02, 2020 (GLOBE NEWSWIRE) -- Arco Platform Limited, or Arco (ARCE), announced today the commencement of an underwritten public offering of 5,563,203 Class A common shares to be offered by General Atlantic Arco (Bermuda), L.P and Alfaco Holding Inc. Arco will not receive any proceeds from the sale of Class A common shares by the Selling Shareholders. Neither Arco nor any other of its other shareholders, including its founding shareholders and members of management, are selling Class A common shares in this offering. The offering is being made only by means of a prospectus and related prospectus supplement forming part of a shelf registration statement on Form F-3 that was previously filed with and declared effective by the Securities and Exchange Commission (“SEC”) on October 21, 2019. A preliminary prospectus supplement and accompanying base prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov, copies of which may be obtained, when available, from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, or by emailing prospectus-ny@ny.email.gs.com; or Itau BBA USA Securities, Inc., 767 Fifth Avenue 50th Floor, New York, New York 10153, Attention: Equity Sales Desk, telephone: 1-212-710-6756 or by emailing roadshowdesk@itaubba.com. These forward-looking statements speak only as of the date hereof and are based on Arco’s current plans, estimates of future events, expectations and trends that affect or may affect our business, financial condition, results of operations, cash flow, liquidity, prospects and the trading price of our Class A common shares, and are subject to several known and unknown uncertainties and risks, many of which are beyond Arco’s control. As a consequence, current plans, anticipated actions and future financial position and results of operations may differ significantly from those expressed in any forward-looking statements in this press release.

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Thursday, May 28


News

Arco Platform Limited (ARCE) Q1 2020 Earnings Call Transcript

BP

During today's presentations, our executives will make forward-looking statements. Forward-looking statements generally relate to future events or future financial or operating performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those contemplated by these forward-looking statements. Forward-looking statements in this presentation include, but are not limited to statements related to our business and financial performance, expectations, and guidance for future periods. Finally, I would like to recognize the tireless work of our 1,900 employees who have been dedicated an enormous amount of energy in further strengthening our platform to once again [Indecipherable] our mission of being the best mission-critical partner to the school's. This broad array of elements under a one-stop shop concept creates a powerful solution to the schools, offering from pedagogical support services to online assessment, digital books and teacher training programs. So as we show on the slide six, when the COVID-19 pandemic hit, affecting an important part of the school environment, the classroom, we are ready to support our client schools. We can now turn to slide 10 where we are pleased to discuss our first quarter performance. And before we dig into the numbers, please note that except for revenues, gross margin, selling expenses, G&A and cash flow from operation, all financial measures I discuss here are non-IFRS and the growth rates are compared to the prior year comparable period unless otherwise stated.

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