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Prices & Quotes - UK Markets - BP (BP.)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 315.70p
Change Today:
2.15p
Market Cap:
64,196m
Sector:
Oil & Gas Producers

BP expects to hit $35bn net debt target in Q1

By Frank Prenesti

Date: Tuesday 06 Apr 2021

LONDON (ShareCast) - (Sharecast News) - BP on Tuesday said it expected to hit its $35bn net debt target during the first quarter of 2021 after faster-than-expected progress on its disposals programme and a "strong" quarter driven by recovering oil prices.
The oil giant had said previously it expected to meet its debt forecast by the fourth quarter of 2021 at the earliest, down from a level of $51.4bn a year ago and $38.9bn at the end of 2020.

BP forecast raising $4bn ‑ $6bn from disposals and said proceeds would now be at the upper end of this range, adding that 60% of surplus cash would be returned to shareholders via a buyback.

"This is a result of earlier than anticipated delivery of disposal proceeds combined with very strong business performance during the first quarter. We look forward to updating the market at our first quarter results, including further information on share buybacks," said chief executive Bernard Looney.

During the first quarter BP had received around $4.7bn in asset sales, including approximately $2.4bn from the completion of the sale of a 20% interest in Oman's Block 61 and $1bn as the final payment from the sale of its global petrochemicals business to INEOS.

It added that its target of $25bn of disposal proceeds between the second half of 2020 and 2025 was now underpinned by agreed or completed transactions of around $14.7bn with around $10bn of proceeds received.

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BP Market Data

Currency UK Pounds
Price 315.70p
Change Today 2.15p
52 Week High 365.75p
52 Week Low 193.44p
Volume 31,910,321
Shares Issued 20,334m
Market Cap 64,196m
Beta 0.04

Performance Indicators

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What The Brokers Say

Strong Buy 15
Buy 4
Neutral 9
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 10-May-2021

Time Volume / Share Price
16:39 35,748 @ 315.70p
16:39 14,252 @ 315.70p
16:39 50,000 @ 315.70p
16:37 791 @ 315.70p
16:35 9,377,521 @ 315.70p

BP Key Personnel

Chair Helge Lund
CFO Murray Auchincloss