BP said the annual loss, its first since 2010, was driven by lower oil and gas prices, exploration write-offs and depressed demand. The London-listed shares fell 3%, while BP ADR shares were 4.3% lower in premarket trading.
Why is BP share price dropping?
The Covid-19 pandemic, leading to an oil price slump, was the immediate cause of BP’s share price collapse. … In it, BP detailed its plan for transition towards a post-carbon future. It includes big investment in low-carbon energy, declines in hydrocarbon production, and big cuts in its own emissions, among other steps.
Is BP shares a good buy?
BP (LSE: BP) shares have been having a good run recently. The stock is up almost 30% since the beginning of 2021, but has only increased 4% during the last 12 months. So it seems that investors have become bullish since the start of the year.
What is wrong with BP stock?
The FTSE 100-listed company reported a full year loss of $5.7 billion, down from a profit of $10 billion in 2019, as it rounded off a tough 2020 with another difficult quarter. BP said the annual loss, its first since 2010, was driven by lower oil and gas prices, exploration write-offs and depressed demand.
Is BP a buy sell or hold?
BP has received a consensus rating of Hold. The company’s average rating score is 2.38, and is based on 10 buy ratings, 9 hold ratings, and 2 sell ratings.
What is the future for BP?
Though the target is for 2050, the company will also have to move very quickly. By 2030, BP plans to cut its oil and gas production by 40% and expand its renewables capacity to 50GW by 2030—up from just 2.5GW in 2019—much of that initially coming from a solar power development project.
Is Royal Dutch Shell a buy or sell?
Royal Dutch Shell has received a consensus rating of Buy. The company’s average rating score is 2.92, and is based on 11 buy ratings, 1 hold rating, and no sell ratings.
Which are the best shares to buy now?
Best Long Term Stocks to Buy now in India
- Return Generation for Shareholders. …
- Management Quality. …
- Caplin Point Labs. …
- ITC Limited. …
- Mphasis. …
- Polycab India. …
- APL Apollo Tubes. …
- Model Portfolio:
Is BP stock undervalued?
Because BP Midstream Partners LP is relatively undervalued, the long-term return of its stock is likely to be higher than its business growth, which averaged 6% over the past five years.
Is BP a profitable company?
BP generated an operating revenue of 180.4 billion U.S. dollars in 2020, the lowest revenue figure in this 16-year time period. BP is a globally operating oil and gas company and counted among the oil supermajors or Big Oil companies – the largest public companies within the industry.
Is GE stock a buy?
Bottom line: GE stock is not a buy. Over the long term, buying an index fund, such as SPDR S&P 500 (SPY), would have delivered safer, higher returns than GE stock. If you want to invest in a large-cap stock, IBD offers several strong ideas here.