Why BP shares slid despite earnings beat and buyback update

Oct 29, 2024 · Q3 profit plunges 30%; Weak refining margins and oil trading weigh; Buybacks rate maintained; Oil major BP ( delivered a better-than-feared drop in profits for the third quarter to …

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Why BP Shares Slid Despite Earnings Beat And Buyback Update

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BP Shares Dip After Announcing Weakest Profits In Nearly Four Years

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Oct 29, 2024 · Shares in BP (BP.L) fell on Tuesday morning, after the oil major posted its weakest quarterly profit in nearly four years. BP posted a nearly 30% slump in underlying replacement …

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BP Stock Drops As Q3 Revenue Misses Mark, Production Declines …

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Oct 29, 2024 · Furthermore, BP plans to conduct a $1.75 billion share buyback before its fourth-quarter earnings release and is committed to an additional $1.75 billion buyback for the fourth …

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Why BP Shares Slid Despite Earnings Beat And Buyback Update

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Oct 29, 2024 · The energy major’s shares were marked down 1% to 395p with investors unnerved by a net debt uptick. Oil major BP (BP.) delivered a better-than-feared drop in profits for the …

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BP Shares Fall To Lowest Since 2022 After Sharp Drop In The Oil …

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Oct 29, 2024 · The company said it is committed to announcing a further $1.75 billion share buyback in the fourth quarter but warned that, as part of an update to its medium term plans in …

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BP Beats Forecasts Despite Seeing 31% Drop In Profits, To Lowest

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B P on Tuesday beat expectations for its earnings, despite posting a ... The energy giant held its dividend at 8 cents per share and vowed to buy back another $1.75 billion worth of shares from ...

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BP Stock Down 14% This Year, What’s Next? - Forbes

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14 hours ago · BP disclosed plans to implement an additional $3.5 billion share buyback program for the second half of 2024 (a $1.75 billion share buyback was already completed for Q3’24), …

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BP Expands Share Buybacks Despite Falling Profits - Yahoo Finance

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Feb 6, 2024 · BP expands share buybacks despite falling profits. ... and taking earnings for 2023 to $13.8bn (£11bn). ... the plan is to buy back at least $14bn over 2024-25. BP’s new chief …

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BP Shares Sold Off After Earnings: Here Is What Upset Markets

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May 3, 2023 · BP NYSE: BP shares closed lower by 8.07% on Tuesday's trading session after a somewhat volatile day in the United States financial markets, with benchmarks like the S&P …

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BP Downgraded On Concerns Over Stock Buyback Ability

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Aug 8, 2024 · BP's London-listed shares slipped 0.2% to 430 pence. Analysts led by Kim Fustier say BP's second-quarter results brought no change to strategy, ahead of a medium-term plan …

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BP Promises Buybacks And Hikes Dividend Despite Profit Fall

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Feb 6, 2024 · BP p.l.c. is one of the world's leading oil groups. Net sales break down by activity as follows: - refining and distribution (76.1%): At the end of 2023, the group had 7 refineries …

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BP Stock Is Falling After Earnings Beat. Why It’s Trailing ... - MSN

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BP has been buying back shares at a rate that could theoretically reduce its share count by nearly 10% a year—and make each remaining share much more valuable. But analysts expect the …

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The BP Share Price Fell Almost 5% Yesterday And Another 2

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Oct 30, 2024 · Despite beating forecasts, Q3 profits of $2.27bn were well down on Q2’s $2.76bn and last year’s $3.29bn. ... BP’s bumper buyback is at risk, with CEO Murray Auchincloss now …

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FAQs about Why BP shares slid despite earnings beat and buyback update Coupon?

Why did BP share prices fall?

Shares in BP (BP.L) fell on Tuesday morning, after the oil major posted its weakest quarterly profit in nearly four years. BP posted a nearly 30% slump in underlying replacement cost profit to $2.3bn (£1.8bn) in the third quarter. Underlying replacement cost profit is the metric that BP uses as its version of net income. ...

Does BP have a buyback plan?

Repurchase: The company completed previously announced $1.75 billion in share buybacks during the quarter. Furthermore, BP plans to conduct a $1.75 billion share buyback before its fourth-quarter earnings release and is committed to an additional $1.75 billion buyback for the fourth quarter of 2024. ...

Why are BP shares trading lower?

BP PLC BP shares are trading lower after the company reported third -quarter results. Sales and other operating revenues came in at $47.254 billion, missing the consensus of $52.557 billion. Hydrocarbon production was 890 mboe/d (-6.0% Y/Y), with underlying production declining 4.0% Y/Y mainly due to base decline. ...

Does BP have a share buyback program?

BP disclosed plans to implement an additional $3.5 billion share buyback program for the second half of 2024 (a $1.75 billion share buyback was already completed for Q3’24), supplementing its initial $3.5 billion commitment for the first half of the fiscal year. ...

Will BP make a buyback in 4th quarter 2024?

Furthermore, BP plans to conduct a $1.75 billion share buyback before its fourth-quarter earnings release and is committed to an additional $1.75 billion buyback for the fourth quarter of 2024. Fourth-Quarter FY24 Outlook: BP anticipates upstream production to be lower than the third quarter of 2024. ...

Are BP shares a buy?

However, he said "despite continued risks, a focus on shareholder returns including a forecast dividend yield of around 6%, currently supports a consensus analyst opinion of the shares as a buy". Shares in BP fell on Tuesday morning after the oil major posted its weakest quarterly profit since the pandemic. ...