BP had a mixed quarter and its revenues were significantly above Wall Street expectations. The management’s emphasis on cost performance as well as operational reliability underpinned robust financial delivery. Despite the fact that its costs are being controlled, the company missed out on meeting the earnings estimates of analysts. BP saw a sharp decline in both spots as well as futures prices. Global margins decreased modestly, consistent with trends in seasonal demand. The company is planning to invest more in its transition growth engines and into the oil and gas system of today. EV Charging has been accelerating with customers using its ultrafast and rapid charging points. It continues to progress with a selling model and solar development with Lightsource BP. The trading business of the company had an exceptional year. BP has also grown distributions through an increase in its resilient dividend and the delivery of a material share buyback program. During the quarter, Brent fell, which reflects relatively high production from OPEC and Russia and increased uncertainty over the economic outlook. In low-energy carbon and gas, the results display a below-average gas trading and marketing performance. We give BP a ‘Hold’ rating with a revised target price.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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