BP Stock Recent News

Palantir Technologies Inc. PLTR is gearing up for a significant milestone: its inclusion in the S&P 500 index, effective Sept. 23.

DENVER--(BUSINESS WIRE)--Palantir Technologies Inc. (NYSE:PLTR) and bp (NYSE:BP) have announced an enterprise agreement that will extend their strategic relationship and introduce new artificial intelligence capabilities with Palantir's AIP software. The new contract will build on a decade of deep collaboration that has created a firm foundation for bp's oil and gas production operations, using Palantir's industry-leading software. Since 2014, Palantir software has been deployed widely by bp to.

In the latest trading session, BP (BP) closed at $32.41, marking a -1.4% move from the previous day.

AI is in and energy is out. As usual. Which is just dandy for contrarian dividend investors like us.

BP's Q2'24 results showed strong performance with a 7% year-over-year growth in core earnings, driven by higher petroleum prices. BP is enhancing shareholder value through $3.5B in stock buybacks in the second half of the year and a 10% dividend increase, signaling robust capital returns. Expansion projects in the Gulf of Mexico represent a catalyst for earnings growth and share price revaluation.

Roger Conrad, editor of Conrad's Utility Investor, and Elliott Gue, editor of Energy & Income Advisor, are experts on utility and energy stocks, respectively. They start by explaining why energy demand should hold up despite concerns about China's economy, and why (and by how much) investment in Artificial Intelligence-related data centers is boosting electricity demand. We also discuss investments designed to increase power grid resiliency, the impact of politics on energy companies, the reasons why the energy transition will take a long time – and how investors can profit from these trends.

BP's H2Teesside project is aimed at producing approximately 1.2 gigawatts (GW) of low-carbon hydrogen. Technip Energies will conduct a FEED study for the project.

Chevron, Shell, BP and Eni SpA have been highlighted in this Industry Outlook article.

Exxon Mobil said on Monday it expects crude demand to stay above 100 million barrels per day (bpd) through 2050, similar to today's levels, a forecast 25% higher than top European rival BP.

Despite the above-consensus Q2 results, BP came under pressure recently as several brokers downgraded shares. Concerns about a lack of distribution resilience seem overblown in our view, with our calculations implying full buyback coverage down to $66 Brent. Even as we acknowledge recent concerns, with shares trading at 17% 24E FCF yield and offering >13% in shareholder distributions, we continue to see BP offering an attractive risk/reward.