BP PLC
BP.: XLON (GBR)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| LOCK|ft | LOCK|&wW | LOCK|GMgt<w |
BP: Strategic Reset Is Step in the Right Direction, but Shareholder Returns to Suffer First
BP is reducing total annual capital spending as part of its strategic reset, with greater amounts going to oil and gas and less to low carbon. Divestments of $20 billion will fund debt reduction. However, its current quarterly repurchase rate falls to $0.75 billion-$1.0 billion from $1.75 billion.
