BP stock down 14% this year, but potential for growth with strategic initiatives.

From Nasdaq: 2025-01-01 22:14:56

BP plc stock (NYSE: BP) has seen a 14% decline this year, now at $29 per share, but shows potential for long-term growth. Despite weak Q3 results, its strategic initiatives aim to generate cash and mitigate oil price impacts. BP plans a $3.5 billion share buyback program and forecasts higher production for 2024.

BP’s Q3 performance saw weaker results, with a net profit of $2.3 billion, revenue decline of 11%, and increased net debt. The company plans a $3.5 billion share buyback program and expects higher production in 2024. For the full year, BP projects slightly higher production and capital expenditure of around $16 billion.

Revenues for BP in 2024 are forecasted at $200 billion, down 6% y-o-y. Valuation is revised to $37 per share, showing a 28% premium from current market price. BP’s stock has consistently increased in value over the past 3 years. Consider the Trefis High Quality Portfolio for less volatile returns.

BP invests in charging stations, biofuels, and hydrogen fuels. It aims to achieve net-zero emissions by 2050 and reduce emissions by 35-40% by 2030. Peer comparisons show BP’s returns compared to S&P 500 and Trefis Reinforced Value Portfolio. Consider investing with Trefis Market-Beating Portfolios for potential gains.



Read more at Nasdaq: BP Stock Down 14% This Year, What’s Next?