BP Jun 2020 35.000 put

OPR - OPR Delayed Price. Currency in USD
1.5200
-0.1300 (-7.88%)
As of 11:07AM EDT. Market open.
Stock chart is not supported by your current browser
Previous Close1.6500
Open1.5200
Bid1.5200
Ask1.5800
Strike35.00
Expire Date2020-06-19
Day's Range1.5200 - 1.5200
Contract RangeN/A
Volume1
Open Interest2.37k
  • BP’s Earnings: Will Upstream, Downstream Slump in Q3?
    Market Realist

    BP’s Earnings: Will Upstream, Downstream Slump in Q3?

    Integrated oil and gas major BP (BP) is expected to post its third-quarter results next week. Will BP's earnings put on a good show?

  • Bloomberg

    U.K. Politicians Push for Divestment of BP and Shell Shares

    (Bloomberg) -- A group of 300 British politicians are pushing the trustees of the Parliamentary Pension Fund to sell shares of BP Plc and Royal Dutch Shell Plc to ward off the risks of climate change.The group, organized by environmental non-profit 350.org, adds to pressure on the fossil fuel industry. Over the last two weeks, climate change activists from the group Extinction Rebellion have disrupted London by blocking roads and climbing on commercial airplanes. Just weeks before that, an estimated 7.6 million people globally took to the streets to protest continually rising emissions.“Reducing our dependence on fossil fuels is probably the single most urgent challenge we face,” the Former Archbishop of Canterbury, Lord Rowan Williams of Oystermouth, said in a statement. “Divestment will send a positive and hopeful message to the people of this country.”The U.K. politicians pushing for divestment said dumping shares in Shell and BP from its 700 million pound ($909 million) pension fund would reduce risk associated with the sector. A panel of bankers at the Oil & Money conference in London earlier this month drew comparisons between oil companies and the tobacco industry, which shrunk after it was socially ostracized and drawn into expensive legal battles.The pledge was signed by politicians from the U.K.’s largest political parties and backed by 30 former MPs including London Mayor Sadiq Khan. In a statement, supporters argued divestment aligns with other actions Britain has taken to address climate change. Parliament declared the world is in a “climate emergency” in May and some lawmakers said they will come up with a new investment policy that factors in the impact of global warming.The Parliamentary Pension Fund holds 11.6 million pounds of BP shares and 10.9 million pounds of Shell shares.“We agree that action is needed now on climate change, so we fully support the Paris agreement and the need for society to transition to a lower-carbon future.” a Shell spokesman said in an emailed statement. “We’re committed to playing our part, by addressing our own emissions and helping customers to reduce theirs. In the U.K., we support the government’s target of net-zero emissions by 2050.”BP didn’t respond to a request for comment.While it’s hard to link divestment directly to changes in fossil-fuel consumption, supporters of the practice believe it can urge companies to adopt cleaner practices. Shell said in its last annual report that the divestment movement could have “a material adverse effect” on its share price and could restrict its access to new capital needed to grow.To contact the reporter on this story: Kelly Gilblom in London at kgilblom@bloomberg.netTo contact the editors responsible for this story: James Herron at jherron9@bloomberg.net, Helen RobertsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • BP to Create JV to Build Acetic Acid Plant in Eastern China
    Zacks

    BP to Create JV to Build Acetic Acid Plant in Eastern China

    BP is anticipated to form a joint venture with Zhejiang Petroleum to build a 1-million-tons-per-year acetic acid facility. This is likely to boost its downstream profits.

  • Exxon Stock Offers Tremendous Value and a Great 5.1% Dividend Yield
    InvestorPlace

    Exxon Stock Offers Tremendous Value and a Great 5.1% Dividend Yield

    It has been a glum time for ExxonMobil (NYSE:XOM) shareholders. Regardless of whether you're looking at the past one year, five years, or ten years, XOM stock has been stuck in the mud. You'd have to go back to before the Great Financial Crisis since XOM stock made investors significant money.Source: Shutterstock As is often the case, however, the longer a stock trades sideways, the bigger its next move will be. XOM stock has now traded largely flat for a decade, swinging up and down but generally remaining near the $75/share mark. When it finally gets going again, expect a huge move. * 7 Reasons to Buy Canopy Growth Stock Technically, Exxon stock is primed to explode upward once it starts accelerating. Here's why Exxon's next move will be upward, and probably dramatically so.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Exxon Mobil's Huge Growth PlansInvestors tend to think of the oil and gas companies being hunkered down for a long winter, and that's generally right. As the oil slump has entered year five, many smaller firms are drastically cutting down exploration and drilling expenses. In a world of $55/barrel oil, it doesn't make sense for small operators to try to increase production.This leaves a big opportunity for companies with more scale and cheaper access to capital like Exxon Mobil. The company can, and is, making efforts to greatly improve its production in coming years. Management realizes that the world is going to need more oil. Once the current shale boom loses steam in the U.S., we'll need another round of fresh supply to replace declining reserves elsewhere.Enter Exxon, with its multi-billion dollar projects to open new production fields in places like Guyana. In fact, Exxon is getting aggressive. They are aiming to double cash flow and earnings in coming years. With so many other players pulling back their spending, Exxon with its fortress balance sheet will profitably pick up the slack. Oil May Be Peaking, But It Isn't Going Away Anytime SoonMany folks seem to confuse Exxon's (very) long-term prospects with its ability to carry on in coming years. Some analysts project that if current trends hold, by around 2050, we may see renewable energy displace fossil fuels in making up a large portion of the electric grid. And the crossover point for electric vehicles could be relatively sooner -- say in the 2030s. Exxon is well aware of this, and management has invested heavily in research for next-generation energy solutions.The fact that renewables will be growing in future decades hardly matters to XOM stock tomorrow, or even ten years from now. By 2040, the 2019 Energy Outlook estimates (see slides 11 and 13) that wind, nuclear, solar, and other renewables will still be less than one-fifth of the world's global energy supply. Even dirty coal will remain a key though shrinking player, while oil demand will be about flat, and natural gas use will continue to rise. XOM Stock Dividend Is Rock-SolidXOM stock is currently offering a more than 5% dividend yield. This is the highest dividend that the company has provided in three decades. Even in the Great Financial Crisis, XOM stock paid far less. Also, in the late 1990s, when oil was just $15/barrel, XOM stock only paid a 2-2.5% dividend. Now it pays double that.The higher dividend yield is the result of investor apathy, along with many socially-responsible funds dumping their allocations to fossil fuels altogether. Oil and gas appear to be becoming like tobacco stocks in the 1990s, shunned by investors who felt the companies were "obsolete" and harmful morally. Regardless of those concerns, cigarette companies like Altria (NYSE:MO) went on to post world-beating returns while giving off fat dividend yields.Exxon stock could perform similarly going forward. The world will need plenty of oil for at least a few more decades, and Exxon has the balance sheet to keep its dividend secure. At an AA+ credit rating, Exxon is one of the highest-rated companies out there; it could pay off its debt with just a year or two of profits if needed.As for the dividend, based on an average of recent years, Exxon's cash flow covers its payout more than three times. This indicates that the company has more than enough ongoing operations, even at relatively low oil and gas prices, to pay the 5% dividend indefinitely. And with growth projects coming online, the company will be able to continue hiking the dividend even more in coming years. XOM Stock VerdictI've been buying Exxon stock gradually over the past year. And with the recent dip under $70/share, I've gotten more aggressive in picking up shares.Admittedly, there's no imminent catalyst for Exxon shares to take off. The oil market is currently in a slump, and natural gas is oversupplied as well. Exxon's refining business is steady, and is generating large profits. That said, until oil or natural gas -- preferably both -- see an uptick, XOM stock might stay down around $70. That's true of other high-quality oil and gas stocks like Chevron (NYSE:CVX), BP (NYSE:BP), and Canadian Natural Resources (NYSE:CNQ) as well.Once prices start to lift, however, XOM stock will skyrocket. Remember that the company is planning to double earnings and cash flow over the next five years from increasing production from low-cost new areas such as Guyana. This should lift earnings to $9/share.Throw in some help from higher oil and gas prices, and EPS will reach the double digits. At the current $70/share price, that'd be a 7x P/E ratio, or less. Even a $100 share price would be no more than 10x earnings. Add in that outsized dividend yield and things look even better. Buy now, and enjoy the 5% dividend with a strong chance of big share price appreciation over the next few years as well.At the time of this writing, Ian Bezek owned XOM, BP, and CNQ stock. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Reasons to Buy Canopy Growth Stock * 7 Restaurant Stocks to Leave on Your Plate * 4 Turnaround Plays to Buy Now The post Exxon Stock Offers Tremendous Value and a Great 5.1% Dividend Yield appeared first on InvestorPlace.

  • UK-EU Reach New Brexit Deal: Winners & Losers
    Zacks

    UK-EU Reach New Brexit Deal: Winners & Losers

    The recent announcement of a Brexit deal is a welcome development for some, but, not necessarily all. Let's thus take a look at the winners and losers.

  • Barrons.com

    Your Heating Bill May Be About to Rise. Blame a New Shipping Rule.

    Oceangoing freight ships will use cleaner fuel at the start of next year, leading to higher shipping costs that may force consumers to pay more for goods and to heat their homes.

  • Behind The List: No. 1 energy employer in Houston sees drop in global revenue
    American City Business Journals

    Behind The List: No. 1 energy employer in Houston sees drop in global revenue

    Despite its No. 1 spot on the Houston Business Journal's 2019 Largest Houston-Area Energy Employers List, Irving, Texas-based Exxon Mobil Corp. (NYSE: XOM) has seen a large drop off in global revenue since 2014. The company reported a global revenue of $279.33 billion in 2018, a 32 percent decrease since 2014, when it reported $421.11 billion in global revenue. The company’s lowest reported revenue was in 2016, when it reported $218.61 billion.

  • BP (BP) Dips More Than Broader Markets: What You Should Know
    Zacks

    BP (BP) Dips More Than Broader Markets: What You Should Know

    In the latest trading session, BP (BP) closed at $37.20, marking a -0.43% move from the previous day.

  • The Zacks Analyst Blog Highlights: ConocoPhillips, Phillips 66, BP and TOTAL
    Zacks

    The Zacks Analyst Blog Highlights: ConocoPhillips, Phillips 66, BP and TOTAL

    The Zacks Analyst Blog Highlights: ConocoPhillips, Phillips 66, BP and TOTAL

  • Reuters

    EXPLAINER-Translating TOR: How Brazil's $26 bln oil rights auction works

    Brazil's Senate passed the main text of a bill late on Tuesday defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR - the 'transfer-of-rights' area. The bidders who win exploration and production rights in the massive Nov. 6 auction will be obliged to pay the government a combined signing bonus of some 106.5 billion reais ($25.8 billion), making it the largest oil bidding round in history, according to Brazilian authorities. The fields are unique as Brazilian state-run oil firm Petroleo Brasileiro SA, better known as Petrobras, has already done significant exploration work in the area.

  • Oil & Gas Stock Roundup: ConocoPhillips' Australia Asset Sale, Phillips 66's Buyback & More
    Zacks

    Oil & Gas Stock Roundup: ConocoPhillips' Australia Asset Sale, Phillips 66's Buyback & More

    ConocoPhillips (COP) entered into an agreement to sell some of its portfolio in Australia for $1.39 billion. Meanwhile, downstream major Phillips 66 (PSX) launched a $3 billion new buyback program.

  • Barrons.com

    Why Royal Dutch Shell Stock Could Stand Out From Big Oil

    But Royal Dutch Shell Shell could benefit thanks to strong prices for liquefied natural gas, says a Cowen analyst

  • 3 Stocks Poised to Gain From India's $60B Investment in Gas
    Zacks

    3 Stocks Poised to Gain From India's $60B Investment in Gas

    India has ample growth and investment opportunity in the natural gas space. To augment the development, the government of India is going to invest $60B in natural gas infrastructure.

  • TOTAL to Gain From Adani Venture as India Invests $60B in Gas
    Zacks

    TOTAL to Gain From Adani Venture as India Invests $60B in Gas

    TOTAL (TOT) to gain from the buyout of a stake in Adani Gas, as the move coincides with the government of India's announcement of $60B investment to strengthen gas infrastructure across the nation.

  • Stock Market News For Oct 14, 2019
    Zacks

    Stock Market News For Oct 14, 2019

    Wall Street closed sharply higher on Friday after President Trump said that United States reached first phase of trade deal with China.

  • BP's Q3 Output Takes a Blow, Divestments Ahead of Schedule
    Zacks

    BP's Q3 Output Takes a Blow, Divestments Ahead of Schedule

    BP is going to wrap up the $10-billion divestment program by 2019-end, one year ahead of schedule.

  • BP nears $10B divestment goal early, will take multibillion-dollar writedown
    American City Business Journals

    BP nears $10B divestment goal early, will take multibillion-dollar writedown

    Thus far in its $10 billion divestment program, BP's largest single deal is the $5.6 billion sale of its operations in Alaska to a Houston-based company.

  • Will Chevron (CVX) Sell Its Stake in the ACG Oilfield to MOL?
    Zacks

    Will Chevron (CVX) Sell Its Stake in the ACG Oilfield to MOL?

    Chevron (CVX) is set to relinquish its interest in the giant Azerbaijan oilfield to MOL for a consideration of more than $2 billion.

  • Did BP's (LON:BP.) Share Price Deserve to Gain 20%?
    Simply Wall St.

    Did BP's (LON:BP.) Share Price Deserve to Gain 20%?

    Generally speaking the aim of active stock picking is to find companies that provide returns that are superior to the...

  • Stocks - Roku, Slack Jump, as Oil Companies Gain Premarket
    Investing.com

    Stocks - Roku, Slack Jump, as Oil Companies Gain Premarket

    Investing.com - Stocks in focus in premarket trading on Friday:

  • Financial Times

    BP faces up to $3bn impairment charge after sale of US assets

    On Friday BP said it will sell four packages of legacy gas assets from its US shale business, without disclosing the buyer or the price. In August, BP said it would sell its Alaskan business to Hilcorp for $5.6bn, ending its 60-year history in the US state.

  • Reuters

    UPDATE 1-BP warns of Q3 charges as it spurs $10 bln divestment target

    BP will take charges of $2 to $3 billion in the third quarter, the British energy firm said on Friday, as it looks to reach divestments worth $10 billion by the end of 2019, a year ahead of schedule. In a statement, London-based BP said it expects to agree asset sales of $10 billion by end-year after its $5.6 billion sale of its Alaskan business to Hilcorp and divestments in U.S. shale gas. BP shares were down 1.1% by 0948 GMT compared with a 1.3% gain in the broader European energy index.

  • MarketWatch

    BP says it expects to sell $10 billion in assets at end of the 2019 -- sooner than expected

    BP PLC on Friday said it plans on selling some $10 billion in assets by the end of 2019, a year earlier than it had expected. The major oil company had announced plans to offload assets last year to shrink its debt ratio. The company in a statement on Friday said it has been selling oil assets in Alaska at a faster clip than had been anticipated, with those divestitures expected to result in a non-cash after-tax charge of $2-3 billion in the company's 2019 full-year results. Shares of BP traded in London were down 0.7% on Friday at 5 pounds. U.S.-listed shares of BP were up 0.7% in premarket action at $37.41.

  • Reuters

    UPDATE 1-Total will not participate in Brazil transfer of rights oil auction -CEO

    France's Total SA , the big winner in a Brazilian auction of offshore oil concessions on Thursday, said it will not participate in a bigger auction scheduled for Nov. 6 of the so-called Transfer of Rights area in Brazil's pre-salt region. The company's chief executive officer, Patrick Pouyanné, said in a statement that was because the competitive bidding rounds were for non-operating stakes. A consortium led by Total won the exploration and production rights for an offshore block near the pre-salt region on Thursday, agreeing to pay the government a signing bonus of 4 billion reais ($978 million).

  • Saudi Aramco to delay launch of its IPO
    Yahoo Finance Video

    Saudi Aramco to delay launch of its IPO

    According to recent reports, Saudi Aramco has delayed its massive IPO until at least December. Aramco had been expected to announce plans next week, in what would have been one of the largest ever IPOS, worth upwards of $20 billion dollars. Yahoo Finance's Dan Roberts, Heidi Chung, Kristin Myers and Scott Gamm discuss on YFi AM.