Oil prices are rising again. One reason for this is the hope of a corona vaccination. As a result, the economy should pick up again. However, the analysts at Independent Research do not believe that prices will continue to rise sharply. Libya is increasing oil production, and non-OPEC countries could follow suit.
The higher oil prices are good for BP. However, the group has to change, from an oil and gas company to an energy company. This is a challenge.
The experts expect adjusted earnings per share of -0.19 dollars for BP 2020 (old: -0.23 dollars). In 2021 the value should be +0.30 dollars (old: +0.22 dollars).
The analysts’ hold recommendation for BP shares remains unchanged. You see the price target for the BP papers at 260.00 GBp, previously it was 190.00 GBp.
The dividend yield is 7.3 percent (2020) and 5.9 percent (2021). The payout will be $ 0.2625 or $ 0.21 per share.