In the third quarter, BP made a profit of $ 86 million. The market had reckoned with $ 120 million. Operationally, BP reports an increase of 1.241 billion dollars, here the consensus stood at 620 million dollars. Apparently the market was too pessimistic beforehand.
The group is planning the green conversion. Partners are Microsoft and Equinor to cover the areas of digitization and wind power. Some skeptics were not convinced of this strategy. However, the current figures should lead some observers to rethink.
But it is also clear that there are still risks associated with the renovation and financing. However, these should now be priced in the course.
The analysts at DZ Bank have increased their rating for BP shares from “hold” to “buy”. The price target remains at 2.80 GBP.
The experts consider the conversion necessary. They praise the speed and the courage with which this is undertaken. The dividend also speaks for the share. The return is around 10 percent.