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BP.N

ISIN: US0556221044
SEDOL: 2142621

Rating:

HOLD

Target Price:

46.44 USD

Investment Horizon:

6 to 12 months
11th May 2009 View Report   Download

Company News Alert

BP PLC’s (BP) ADR price has increased significantly since we upgraded it from a HOLD to a BUY in our company news alert, dated 04 March 2009. The ADR achieved our target price on 08 May 2009. We believe the uncertainties surrounding the global economy will continue to weigh on hydrocarbon demand and we forecast a y-o-y drop in the average price of crude oil in FY 2009, thereby hindering BP’s performance during the period....

28th Apr 2009 View Report   Download

1Q 09 News Alert

BP PLC’s (BP) operating revenues declined significantly in 1Q 09 and were below our estimate for the quarter. However, BP’s operating performance was above our expectations due to lower-than-expected purchase costs. We remain concerned regarding the impact of the global economic downturn on global hydrocarbon demand and prices in FY 2009, which will hinder BP’s performance over our investment horizon. However, given the better-than-expected operating performance in 1Q 09…

4th Mar 2009 View Report   Download

Company News Alert

On 03 March 2009, BP PLC (BP) released its strategic plan for FY 2009. Although it has lowered its hydrocarbon production growth estimates, it remains optimistic about sustaining its long term production growth backed by its diversified and cost competitive resource base. In addition, the company announced a replacement ratio of 121% to its oil and gas reserve base, which extended the life of its resource base. The company…

17th Feb 2009 View Report   Download

4Q 08 & FY 2008 Update Report

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Concerns over global economic downturn are likely to continue to weigh on a rise in hydrocarbon demand throughout FY 2009, preventing a rise in hydrocarbon prices over the same period. As a result, we do not foresee a significant recovery in the hydrocarbon demand and prices until the beginning of FY 2010. Low hydrocarbon prices will not only cause a decline BP’s revenue but also keep its margins…

3rd Feb 2009 View Report   Download

4Q 08 News Alert

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BP PLC (BP) reported a significant decline in its top-line as well as considerable net loss in 4Q 08 given lower realized hydrocarbon prices during the period. As results fell below our expectations for the quarter and given our concerns regarding hydrocarbon demand and prices in FY 2009, we are likely to lower our estimates and target price in our next update report. As a result, we downgrade the…