BP (BP.)

Sector:

Energy Producers

Index:

FTSE 100

315.40p
   
  • Change Today:
    -8.65p
  • 52 Week High: 332.70
  • 52 Week Low: 193.44
  • Currency: UK Pounds
  • Shares Issued: 20,243m
  • Volume: 84,143,327
  • Market Cap: £63,846m
  • RiskGrade: 211

Tuesday preview: Tesla, BP, BoJ in focus

By Alexander Bueso

Date: Monday 26 Apr 2021

LONDON (ShareCast) - (Sharecast News) - The focus of Tuesday's session will be the latest quarterly updates from US technology giants Microsoft and Tesla.
In the case of the latter, which was due to publish its latest results after the close of trading on Monday (with Mr. Softee set to follow the next evening), analysts were looking to see if the manufacturer was any closer to turning a profit by selling cars, as opposed to selling regulatory credits.

Nevertheless, as Michael Hewson, chief market analyst at CMC Markets UK conceded, the firm did turn free cash flow positive in the last three months of 2020 - to the tune of $2.79bn.

Even so, Hewson said: "With a market cap in excess of the entire automotive sector, the shares have an almost cult like status amongst its devotees, however questions are now being asked as to whether this sort of valuation can be sustained at a time when the likes of GM, Ford and Daimler are starting to ramp up their electric vehicle offerings, and have the ability to scale much quicker."

Still in the corporate space, but in the UK this time, all eyes will be on BP's first quarter trading update.

Investors' attention will be, especially, on the oil giant's progress on transitioning towards renewable energies and as regards its deleveraging plans, with progress expected on both fronts, Hewson said - and perhaps already priced into its shares.

On the first of those fronts, BP's Lightsource business, for example, has continued expanding in Spain, acquiring responsibility for a 1.06GM portfolio in Spain from RIC Energy.

The outfit has also closed several deals recently to sell non-core assets.

So much so that its full-year target of reducing net debt from £38.9bn to £35bn could be reached in the first three months of 2021 alone, helped by its recent trading performance.

"This sets the bar high for a decent set of numbers given that it was also suggested that BP would look at restarting share buybacks, subject to maintaining its investment grade rating," Hewson added.

"The resilience of the oil price this quarter will no doubt have helped in terms of this week's numbers, however with gasoline and distillate demand in Q1 set to be weak due to lockdown restrictions, investors will be hoping for further indications of what other measures the company is looking to take to steer itself towards a greener future."

Yet as Hewson also pointed out to clients, the stock price had already run up by 15% since the release of its full-year numbers in February.

In the background, the spotlight will be on the result of the Bank of Japan's monetary policy meeting, with rate-setters in Tokyo expected to stick with an easing bias.

A first reading on South Korean GDP for the first quarter of 2021 is also due out overnight.

Stateside, the main risk event of the session will be the US Treasury's auction of seven-year debt.

On home shores, the Confederation of British Industry will release the results of its Distributive Trades survey for April.

Tuesday 27 April

INTERIMS

Egdon Resources, Focusrite

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Business Climate Indicator (EU) (10:00)

Consumer Confidence (US) (15:00)

GDP (Preliminary) (US) (13:30)

Housing Starts (US) (14:00)

Industrial Confidence (EU) (10:00)

FINALS

Anexo Group , Gaming Realms, Inspiration Healthcare Group , Nostrum Oil & Gas , Xaar, XLMedia

AGMS

Aquis Exchange , Maven Income and Growth VCT 5, OMV Petrom S.A. GDR (REG S), Travis Perkins, Tribal Group

TRADING ANNOUNCEMENTS

Vivo Energy

Q1

BP

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BP Market Data

Currency UK Pounds
Share Price 315.40p
Change Today -8.65p
% Change -2.67 %
52 Week High 332.70
52 Week Low 193.44
Volume 84,143,327
Shares Issued 20,243m
Market Cap £63,846m
RiskGrade 211

BP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.82% above the market average76.82% above the market average76.82% above the market average76.82% above the market average76.82% above the market average
44.58% above the sector average44.58% above the sector average44.58% above the sector average44.58% above the sector average44.58% above the sector average
Price Trend
46.74% below the market average46.74% below the market average46.74% below the market average46.74% below the market average46.74% below the market average
20.88% below the sector average20.88% below the sector average20.88% below the sector average20.88% below the sector average20.88% below the sector average
Income
76.06% above the market average76.06% above the market average76.06% above the market average76.06% above the market average76.06% above the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Growth
48.07% below the market average48.07% below the market average48.07% below the market average48.07% below the market average48.07% below the market average
92.59% below the sector average92.59% below the sector average92.59% below the sector average92.59% below the sector average92.59% below the sector average

What The Brokers Say

Strong Buy 15
Buy 5
Neutral 8
Sell 3
Strong Sell 1
Total 32
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BP Dividends

  Latest Previous
  Q1 Q4
Ex-Div 06-May-21 18-Feb-21
Paid 18-Jun-21 26-Mar-21
Amount 5.25¢ 5.25¢

Trades for 18-Jun-2021

Time Volume / Share Price
16:36 2,881 @ 315.40p
16:35 1,602 @ 315.40p
16:35 23,398 @ 315.40p
16:29 407 @ 315.70p
16:29 329 @ 315.70p

BP Key Personnel

Chair Helge Lund
CFO Murray Auchincloss

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