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BP PLC ADR BP

Morningstar Rating
$39.29 +0.38 (0.98%)
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Company Report

BP Continues Push Into Low-Carbon Businesses Even As It Keeps Hydrocarbon Production Steady

BP remains committed to investing and growing its nonhydrocarbon businesses as it seeks to transition to an integrated energy company from an integrated oil company. However, it has revised its previous plans to reduce production by 25% by 2025 and 40% by 2030, and will now increase production slightly through 2025 and reduce it by about 25% from 2019 levels by 2030, largely through divestments. During that time, it should also improve upstream profitability as higher-margin volumes from major projects come online and costs are reduced. Shareholders should welcome this change in our view given the improved outlook for oil and gas prices.

Price vs Fair Value

BP is trading at a 8% discount.
Price
$38.91
Fair Value
$66.60
Uncertainty
High
1-Star Price
$78.68
5-Star Price
$54.10
Economic Moat
Xlvgs
Capital Allocation
Ccqmgtpsd

Bulls Say, Bears Say

Bulls

BP is moving early to adapt to the coming energy transition. Its aggressive move away from oil investments should leave it better positioned than peers in the next decade.

Bears

BP’s relative lack of oil production growth leaves it at a disadvantage to peers as oil demand will continue to grow for another decade while current industry underinvestment will result in higher-than-expected prices.

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News

Trading Information

Previous Close Price
$38.91
Day Range
$38.6939.47
52-Week Range
$33.5240.84
Bid/Ask
$39.35 / $39.40
Market Cap
$110.13 Bil
Volume/Avg
13.5 Mil / 9.7 Mil

Key Statistics

Price/Earnings (Normalized)
7.95
Price/Sales
0.53
Dividend Yield (Trailing)
4.43%
Dividend Yield (Forward)
4.43%
Total Yield
11.62%

Company Profile

BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2022, reserves stood at 7.2 billion barrels of oil equivalent, 56% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day.
Sector
Energy
Industry
Oil & Gas Integrated
Stock Style Box
Large Value
Total Number of Employees
87,800

Competitors

Valuation

Metric
BP
XOM
SHELL
Price/Earnings (Normalized)
7.9512.718.78
Price/Book Value
1.542.351.32
Price/Sales
0.531.470.79
Price/Cash Flow
3.178.235.95
Price/Earnings
BP
XOM
SHELL

Financial Strength

Metric
BP
XOM
SHELL
Quick Ratio
0.711.060.90
Current Ratio
1.211.481.40
Interest Coverage
6.8163.177.40
Quick Ratio
BP
XOM
SHELL

Profitability

Metric
BP
XOM
SHELL
Return on Assets (Normalized)
4.93%10.42%6.70%
Return on Equity (Normalized)
19.64%19.34%14.92%
Return on Invested Capital (Normalized)
10.75%15.75%10.59%
Return on Assets
BP
XOM
SHELL
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Oil & Gas Integrated Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
XOM
Exxon Mobil CorpFflhxjlshlTshycm$469.1 Bil
CVX
Chevron CorpTyjbyhjsNxjykx$295.4 Bil
PCCYF
PetroChina Co Ltd Class HXrw$250.8 Bil
RYDAF
Shell PLCLvshv$230.2 Bil
SHEL
Shell PLC ADR (Representing - Ordinary Shares)WkmslrzyBnjd$230.2 Bil
TTE
TotalEnergies SE ADRWmpnmnwRbc$167.6 Bil
PBR
Petroleo Brasileiro SA Petrobras ADRFtnnmrlrPdkh$102.9 Bil
EQNR
Equinor ASA ADRQgzmmfsfGjc$78.8 Bil
E
Eni SpA ADRCsfkzvtsKnsr$52.2 Bil

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