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News Review: BP (NYSE: BP)

Michael Hunt

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On Thursday, Shares of BP (NYSE: BP) lost -0.02% to $45.70. The stock opened its trade at $45.84 and after floating in a price range of $45.64 to $45.98; the stock grabbed the investor’s attention and traded 2,074,602 shares as compared to its average daily volume of 6.10M shares. The stock’s institutional ownership stands at 12.30%.

During Q1 FY18, BP’s sales and other operating revenues came in at $68.17B, up from the $55.86B recorded at the end of Q1 FY17. Furthermore, the Company’s revenues for the stated quarter topped market expectations of $67.95B.

The oil Company stated RC profit of $2.39B, or 11.99¢ per diluted share, in Q1 FY18 contrast to $1.41B, or 7.23¢ per diluted share, in Q1 FY17. BP’s underlying RC profit was $2.59B, or 12.98¢, in Q1 FY18 contrast to $1.51B, or 7.74¢, in the year ago same period. Furthermore, the Company’s underlying RC profit per American Depositary Share (ADS) stood at $0.78 in the stated quarter contrast to $0.46 in Q1 FY17, beating market analysts’ forecasts of $0.68 for Q1 FY18.

Segment Performance:

BP’s upstream segment stated revenues of $7.14B in Q1 FY18 contrast to $5.55B in Q1 FY17. The segment’s RC profit before interest and tax increased to $3.17B in Q1 FY18 contrast to $1.26B in Q1 FY17.

For Q1 FY18, BP’s Downstream segment contributed $60.92B to the Company’s total revenues as compared to $50.17B in the year ago comparable quarter. The segment stated RC profit before interest and tax of $1.71B in Q1 FY18 as compared to $1.71B in Q1 FY17.

Cash Matters and Balance Sheet:

For the quarter ended March 31, 2018, BP generated cash from operations of $3.65B contrast to $2.11B in the prior year’s corresponding quarter. The Company’s capital expenditure was $3.96B in Q1 FY18 contrast to $4.07B in Q1 FY17.

The Company’s cash and cash equivalents balance stood at $22.24B as on March 31, 2018, contrast to $25.59B at the close of books as on December 31, 2017. The Company’s net debt was $39.99B as on March 31, 2018, contrast to $38.64B as on December 31, 2017. Furthermore, the Company’s net debt ratio stood at 28.1% as on March 31, 2018, contrast to 28.0% as on December 31, 2017.

BP has a market value of $155.44B while its EPS was booked as $1.58 in the last 12 months. The stock has 3.40B shares outstanding. In the profitability analysis, the company has gross profit margin of 15.40% while net profit margin was 1.70%. Beta value of the company was 0.89; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.40.

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I am Michael Hunt and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind irnpost.com with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Basic Materials” category.

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