BP Stock Recent News

BP (BP) reachead $33.79 at the closing of the latest trading day, reflecting a -0.21% change compared to its last close.

BP's strategic reset addresses previous concerns by boosting oil and gas CAPEX and cutting underperforming renewable investments, aiming to reduce debt through asset disposals. The stock has rebounded since the reset announcement, with activist investor Elliott Management pushing for further strategic changes and board adjustments. BP plans to cut overall CAPEX while increasing oil and gas investments, targeting 2.3-2.5 MMBOE/day production by 2030, reversing its 2020 strategy.

BP moves ahead with its Ginger gas project in Trinidad, adding to its growing offshore portfolio and advancing its $10B annual upstream investment plan.

BP is undervalued with a low P/E ratio, high yield, and bullish technical indicators, despite recent underperformance and mixed earnings results. BP's management plans a strategic reset, including potential M&A, and has increased dividends by 10%, signaling confidence despite macro challenges. Key risks include refining operation uncertainties, potential macroeconomic slowdown, and activist pressure, but April's seasonal trends are historically positive for BP.

BP plans to divest its Austrian fuel and EV assets, including 260+ retail sites, as part of a $20B disposal program targeting a sales agreement by Q3 2025.

U.S. activist investor Elliott Investment Management has taken a short position against British oil major Shell as part of a global hedging program. The move, which was first reported by British newspaper The Times on Thursday, comes shortly after it emerged Paul Singer's hedge fund had taken a near 5% stake in Shell's struggling rival, BP.

The Gulf of Mexico—or, as oil executives now call it, the Gulf of America—is critical to BP CEO Murray Auchincloss's plans to win back investor confidence and fend off a powerful activist in Elliott Management, he told Barron's in an interview in London.

BP receives the Iraqi government's final approval to redevelop Kirkuk oil fields, aiming to produce more than 3 billion barrels and boost Iraq's energy sector.

BP, the British multinational oil and gas company, announced on Thursday that it intends to divest its mobility and convenience business in Austria.  This strategic move is part of BP's broader portfolio restructuring efforts under the leadership of CEO Murray Auchincloss, who has implemented a “reset strategy” for the company.

BP said on Thursday it plans to sell its mobility and convenience business in Austria, as the oil giant reshapes its portfolio under CEO Murray Auchincloss' reset strategy.