Streetbeat News

BP p.l.c.

https://www.bp.com

Industry

Oil & Gas Integrated

BP p.l.c. engages in the energy business worldwide. It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. It produces and trades in natural gas; offers biofuels; operates onshore and offshore wind power, and solar power generating facilities; and provides de-carbonization solutions and services, such as hydrogen and carbon capture and storage. The company is also involved in the convenience and mobility business, which manages the sale of fuels to retail customers, convenience products, aviation fuels, and Castrol lubricants; and refining and trading of oil products, as well as operation of electric vehicle charging facilities. In addition, it produces and refines oil and gas; and invests in upstream, downstream, and alternative energy companies, as well as in advanced mobility, bio and low carbon products, carbon management, digital transformation, and power and storage areas. The company was founded in 1908 and is headquartered in London, the United Kingdom.

Open

29.10

Mkt cap

74B

Volume

7.7M

High

29.21

P/E Ratio

28.98

52-wk high

40.40

Low

28.83

Div yield

0.08

52-wk low

27.82

BP Inc.'s shares are currently trading at $35.87, after a 1.21% drop. Despite a decrease of 5.52% over the past month, the stock has increased by 17.07% over the past year. The company's price-to-earnings (P/E) ratio is lower than the aggregate P/E of the Oil, Gas & Consumable Fuels industry, which could indicate that the stock is undervalued. However, a lower P/E can also suggest that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

October 05, 2023 | 5:00 pm

Palantir is expanding its collaboration with PwC to combine AI capabilities. Anthropic, a competitor to OpenAI, is securing additional funding from Alphabet and Amazon. Sanofi and Teva have collaborated to co-develop a drug for inflammatory bowel disease. Insulet's CFO is resigning to join 3M. United Airlines has ordered 110 more aircraft from Boeing and Airbus. Zoom has unveiled AI-powered innovations. Over 75,000 employees of Kaiser Permanente have initiated a three-day strike. Softbank's CEO emphasized the importance of AGI. Uber is expanding its service offerings to include package return. UBS is offering enticing interest rates to attract clients. A New Jersey appeals court overturned a verdict linked to asbestos exposure in Johnson & Johnson's talc powder products. BP is looking to sell a stake in its U.S. oil and gas pipeline network. Helen Of Troy and Acuity Brands reported their earnings.

Portfolio Pulse from Vandana Singh

October 04, 2023 | 4:37 pm

Energy stocks are trading lower due to falling oil prices.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 2:36 pm

BP PLC is reportedly planning to sell a 49% stake in its U.S. oil and gas pipeline network in the Gulf of Mexico, aiming to raise about $1 billion. The move is part of BP's strategy to lower debt and maintain its dividend. The pipeline's entity reportedly generates a 12-month EBITDA of about $200 million. BP's shares are trading lower by 0.66% at $37.35 premarket.

Portfolio Pulse from Lekha Gupta

October 04, 2023 | 9:57 am

BP is planning to sell a 49% stake in its US oil and gas pipeline network in the Gulf of Mexico, with expectations to raise up to $1 billion.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 7:47 am

BP Plc's top executive Dave Lawler is stepping down, marking another high-profile departure from the oil giant following the recent resignation of global chief executive Bernard Looney. Orlando Alvarez will reportedly succeed Lawler as the head of BP America. BP shares closed lower by 1.8% to $38.72 on Friday.

Portfolio Pulse from Nabaparna Bhattacharya

September 30, 2023 | 8:37 pm

Dave Lawler, a top executive at BP in the US, is set to leave the company, according to a Financial Times report. The departure of a key executive could potentially impact the company's operations and strategy in the US.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 7:46 pm

Oil and energy stocks are trading higher due to a draw in US crude oil inventories. This has positively impacted the shares of several oil companies.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 7:08 pm

NetEase (NASDAQ:NTES) will distribute a dividend of $0.53 per share on September 22, 2023, yielding an annualized dividend of 2.05%. The company has shown a steady increase in dividend per share from $0.93 in 2020 to $1.52 in 2022, and a growth in earnings per share from $3.07 to $5.59 over the same period. BP (NYSE:BP) has the highest annualized dividend yield at 4.17% among industry peers.

Portfolio Pulse from Benzinga Insights

September 22, 2023 | 3:05 pm

BP P.L.C. (NYSE:BP) and Shell PLC (NYSE:SHEL) have received licenses for exploration in three deepwater blocks from the government of Trinidad and Tobago. The decision follows complex negotiations and is aimed at boosting the country's hydrocarbon development. The blocks are located in deep water and require different and novel considerations due to the nature of the expected exploration and possible future production. The contract comes almost nine months after Trinidad's government refused bids initially submitted by the consortium for failing to meet minimum thresholds.

Portfolio Pulse from Nabaparna Bhattacharya

September 22, 2023 | 11:17 am

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