BP plc. (BP)
NYSE:BP
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BP
(NYSE:BP)
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Rating:63Neutral
Price Target:
$49.00
â–²(9.89% Upside)
Action:Reiterated
Date:05/04/26
The score is anchored by mixed financial performance: solid cash flow and positive operating profitability are tempered by very thin net profitability and higher leverage. Technicals are supportive with the stock above major moving averages and positive MACD. Valuation is a meaningful positive (low P/E and strong dividend), while the latest earnings call was moderately constructive on execution and deleveraging focus but flagged near-term headwinds (working-capital build, paused buybacks, refining margin pressure, and regional disruption risk).
Positive Factors
Consistent cash generation
Sustained operating cash flow and positive free cash flow provide durable funding for capex, dividends and debt reduction. Over the 2–6 month horizon this underpins balance‑sheet repair, funds portfolio high‑grading and supports the company’s targeted FCF CAGR through 2027.
Negative Factors
Higher leverage reducing flexibility
Elevated leverage leaves less room to absorb commodity shocks or fund opportunistic investments without further divestments. With net‑debt targets still unmet, capital allocation must prioritise deleveraging over buybacks, constraining returns and strategic optionality through the cycle.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent cash generation
Sustained operating cash flow and positive free cash flow provide durable funding for capex, dividends and debt reduction. Over the 2–6 month horizon this underpins balance‑sheet repair, funds portfolio high‑grading and supports the company’s targeted FCF CAGR through 2027.
Read all positive factors
BP Key Performance Indicators (KPIs)
Any
Revenue by Product
Breaks down sales by product type, revealing which offerings are most popular and where there might be opportunities for expansion or risk of decline.
Breaks down sales by product type, revealing which offerings are most popular and where there might be opportunities for expansion or risk of decline.
Data provided by:
The Fly
The FlyBP (BP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$117.31B
Dividend Yield5.62%
Average Volume (3M)9.55M
Price to Earnings (P/E)7.9
Beta (1Y)0.21
Revenue Growth4.29%
EPS GrowthN/A
CountryUS
Employees100,500
SectorEnergy
Sector Strength52
IndustryOil & Gas Integrated
Share Statistics
EPS (TTM)1.25
Shares Outstanding2,617,016,800
10 Day Avg. Volume7,197,585
30 Day Avg. Volume9,553,115
Financial Highlights & Ratios
PEG Ratio-19.30
Price to Book (P/B)1.70
Price to Sales (P/S)0.48
P/FCF Ratio7.99
Enterprise Value/Market Cap1.33
Enterprise Value/Revenue0.80
Enterprise Value/Gross Profit4.14
Enterprise Value/Ebitda4.46
Forecast
1Y Price Target
$51.56Price Target Upside15.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)5.19
Revenue Forecast (FY)$215.64B
BP Business Overview & Revenue Model
Company Description
BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; tradi...
How the Company Makes Money
BP makes money primarily by producing, processing, trading, and selling energy and energy-related products and services across several interconnected business lines. Upstream (oil and gas production): BP earns revenue by selling produced crude oil...
BP Earnings Call Summary
Earnings Call Date:Apr 28, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 04, 2026
Earnings Call Sentiment Positive
The call emphasized strong operational execution (production, refining availability and throughput), solid underlying financial performance and clear strategic actions (portfolio simplification, cost reductions, hybrid reduction plan, capex discipline and exploration successes). Offsetting negatives included a sizable working capital build that increased net debt, paused buybacks, margin pressure in refining driven by feedstock/yield/freight dynamics, regional disruption risk in the Middle East and some uncertainty around commercialization of a very large discovery. Overall, the positive operational and strategic developments and explicit balance-sheet actions outweigh the near-term financial and market headwinds.Positive Updates
Strong production and refinery performance
Produced 2.3 million barrels of oil equivalent per day; refining availability above the 96% target and throughput over 1.5 million barrels per day — the highest quarterly throughput in four years.
Negative Updates
Working capital build increased net debt this quarter
Net debt increased this quarter largely due to a $6.0 billion working capital build, creating short-term balance-sheet pressure despite management confidence in meeting net debt targets.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong production and refinery performance
Produced 2.3 million barrels of oil equivalent per day; refining availability above the 96% target and throughput over 1.5 million barrels per day — the highest quarterly throughput in four years.
Read all positive updates
Company Guidance
The management reiterated a clear focus on balance‑sheet repair and disciplined capital allocation, reiterating the net‑debt target range of $14–18 billion and a plan to reduce the corporate hybrid stack by over $4 billion by end‑2027 (with the first redemption window in Q2), having paused buybacks; CapEx is framed at $13–15 billion over the next two years (with 2026 tightened to about $13 billion). Operational and near‑term financial metrics highlighted included production of 2.3 million boe/d, refining availability above the 96% target with throughput over 1.5 million bpd (the highest quarterly throughput in four years), underlying net income of $3.2 billion and operating cash flow of $8.9 billion before a $6 billion working‑capital build. They also flagged strategic progress and optionality — 14 discoveries since start‑2025 (including the Bumerangue ~8 billion barrels in place), an LNG portfolio of ~27 mtpa strategic plus ~15 mtpa merchant, a 100% reserve‑replacement ambition by 2027, and continued delivery of structural cost reductions (another $300 million delivered, ~70% of the 4–5% target).BP Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
48
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 194.69B | 189.34B | 189.19B | 210.13B | 241.39B | 157.74B |
| Gross Profit | 37.72B | 33.53B | 30.24B | 48.07B | 55.10B | 22.86B |
| EBITDA | 35.02B | 31.07B | 28.74B | 43.50B | 32.35B | 32.55B |
| Net Income | 3.20B | 55.00M | 381.00M | 15.24B | -2.49B | 7.57B |
Balance Sheet | ||||||
| Total Assets | 301.74B | 278.53B | 282.23B | 280.29B | 288.12B | 287.27B |
| Cash, Cash Equivalents and Short-Term Investments | 35.76B | 36.71B | 34.52B | 28.59B | 23.91B | 26.22B |
| Total Debt | 74.18B | 84.27B | 71.55B | 63.08B | 55.49B | 69.79B |
| Total Liabilities | 224.78B | 204.53B | 203.91B | 194.80B | 205.13B | 196.83B |
| Stockholders Equity | 55.96B | 53.05B | 59.25B | 70.28B | 67.55B | 75.46B |
Cash Flow | ||||||
| Free Cash Flow | 11.41B | 11.30B | 12.00B | 17.75B | 28.86B | 12.72B |
| Operating Cash Flow | 24.49B | 24.55B | 27.30B | 32.04B | 40.93B | 23.61B |
| Investing Cash Flow | -9.71B | -9.05B | -13.25B | -14.87B | -13.71B | -5.69B |
| Financing Cash Flow | -12.93B | -18.39B | -7.30B | -13.36B | -28.02B | -18.08B |
BP Technical Analysis
Positive
44.59
Price Trends
44.88
Positive
40.59
Positive
37.11
Positive
Market Momentum
>-0.01
Negative
58.22
Neutral
73.89
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BP, the sentiment is Positive. The current price of 44.59 is below the 20-day moving average (MA) of 45.07, below the 50-day MA of 44.88, and above the 200-day MA of 37.11, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 58.22 is Neutral, neither overbought nor oversold. The STOCH value of 73.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BP.
BP Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $124.92B | 5.38 | 27.02% | 14.10% | 3.35% | 133.76% | |
67 Neutral | $665.22B | 42.42 | 9.77% | 3.35% | -3.07% | -21.84% | |
66 Neutral | $245.54B | 11.56 | 10.58% | 3.92% | -5.34% | 47.93% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | $390.59B | 46.35 | 6.23% | 4.54% | -2.16% | -33.98% | |
63 Neutral | $117.31B | 7.90 | 5.52% | 5.62% | 4.29% | ― |
* Energy Sector Average
BP
BP
46.14
18.72
68.30%
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BP Corporate Events
BP Executives Reinvest Dividends to Increase Shareholdings in April 2026
May 1, 2026
On 1 April 2026, several of BP’s senior executives increased their holdings of the company’s ordinary shares through participation in a dividend reinvestment plan. Chief financial officer and director Kate Thomson, EVP production oper...
BP Reports Total Voting Rights and Share Capital as of 30 April 2026
May 1, 2026
As at 30 April 2026, BP reported an issued share capital of 15,702,101,757 ordinary shares, each carrying one vote, and 12,706,252 preference shares, which carry two votes for every £5 of nominal capital. The company also held 784,211,237 ord...
BP Posts Strong Q1 2026 Rebound and Raises Cost-Cut Target After Gelsenkirchen Sale Deal
Apr 28, 2026
BP reported first-quarter 2026 results on 28 April, showing a sharp rebound to a $3.8 billion profit attributable to shareholders and underlying replacement cost profit of $3.2 billion, up from $1.5 billion in the prior quarter. The improvement wa...
BP Posts Strong First-Quarter 2026 Rebound, Feeding Into Key U.S. Filings
Apr 28, 2026
BP reported its group results for the first quarter of 2026 in a Form 6-K for the three months ended 31 March 2026, highlighting “continued strong operational and financial delivery” after a volatile prior year. Profit attributable to ...
BP AGM 2026: Core Board Resolutions Pass but Governance Proposals Face Significant Shareholder Dissent
Apr 23, 2026
BP held its 2026 annual general meeting in London on 23 April 2026, with around 59% of issued share capital voting on most resolutions. Shareholders strongly backed the annual report, directors’ pay, board elections, auditor reappointment an...
BP Updates Total Voting Rights After April Treasury Share Transfer
Apr 20, 2026
BP p.l.c. disclosed that on 10 April 2026 it transferred 355,880 ordinary shares out of treasury to satisfy distributions under certain employee share schemes, slightly reducing its treasury stock position. Following the move, BP now holds 784,211...
BP Flags Exceptional Oil Trading and Higher Net Debt in Volatile First Quarter 2026
Apr 14, 2026
On 14 April 2026, BP issued a first-quarter 2026 trading statement outlining preliminary estimates for its performance amid heightened volatility in oil, gas and refined product markets linked to the ongoing Middle East situation. The group expect...
BP Updates Total Voting Rights and Share Capital as of March 31, 2026
Apr 1, 2026
As of 31 March 2026, BP reported an issued share capital of 15,700,880,610 ordinary shares with one vote each and 12,706,252 preference shares carrying two votes for every £5 of nominal capital. The company also held 785,432,384 ordinary shar...
BP details March 2026 insider share dealings and sets sterling payout for Q4 2025 dividend
Apr 1, 2026
In March 2026, BP reported several management share transactions and confirmed details of its fourth-quarter 2025 interim dividend. Interim CEO Carol Howle and CFO Kate Thomson acquired small amounts of BP ordinary shares on 10 March 2026 via the ...
BP to Sell Gelsenkirchen Refinery to Klesch in Push to Cut Costs and Streamline Portfolio
Mar 19, 2026
On 19 March 2026, BP agreed to sell its Gelsenkirchen refinery complex in Germany and associated businesses, including the Bottrop tank farm, DHC Solvent Chemie and related logistics and marketing operations, to independent European refiner Klesch...
BP Announces Multiple Board Exits and New Safety and Sustainability Chair
Mar 6, 2026
On 6 March 2026, BP announced a series of board changes set to take effect at the conclusion of its annual general meeting on 23 April 2026. After nine years of service, non-executive director Melody Meyer will retire from the board, marking the e...
BP Files 2025 Annual Report and Sets 2026 AGM for April 23
Mar 6, 2026
On 6 March 2026, BP published its 2025 Annual Report and Form 20‑F, along with the Notice of its 2026 Annual General Meeting, proxy form, notification card, and proposed new articles of association. The release follows the company’s un...
BP Updates Total Voting Rights and Share Capital as of 28 February 2026
Mar 2, 2026
BP p.l.c. is a global energy company headquartered in London, operating primarily in the oil and gas industry with a broad shareholder base across international capital markets. Its listed equity structure includes ordinary and preference shares, ...
BP Advances November 2025 Buyback With Early February 2026 Share Repurchases
Mar 2, 2026
In early February 2026, BP p.l.c. continued executing the share buyback programme it announced in November 2025, repurchasing millions of its ordinary shares on the London Stock Exchange and Cboe UK between 2 and 5 February under authority granted...
BP posts strong 2025 underlying results, suspends buybacks to strengthen balance sheet
Feb 10, 2026
BP reported its fourth-quarter and full-year 2025 results on 10 February 2026, showing underlying replacement cost profit of $7.5 billion for the year and $1.5 billion for the quarter, supported by $24.5 billion in operating cash flow despite lowe...
BP posts volatile 2025 results as Form 6-K shows Q4 loss and slim full-year profit
Feb 10, 2026
BP has filed a Form 6-K for the period ended 31 December 2025, providing management’s discussion and analysis, consolidated financial statements, details of legal proceedings, and capitalization and indebtedness for the fourth quarter and fu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.