BP Results: Beat? Miss? Who Cares, Fire the Board

By Paul Sankey Published on October 29, 2024 at 8:16 AM

Let’s face it, BP can’t miss. The stock sucks. It is just about the worst performing on the FTSE 100 this year, which is hardly a stellar market. Our Q3 results call here is: change the BP board. Somebody has to be held responsible for the performance of this once-great British company, whose last move was to fire the CEO for sexual misconduct. Hardly a “bravo!” for that, especially not as the board then defaulted …

BP: the Camel and the Horse

By Paul Sankey Published on April 6, 2024 at 2:38 PM

In this note we consider BP’s position in BPX, its US onshore play, in the context of the overall investment case for BP. Source: BP The following thoughts emerged, embracing multiple metaphors: “A camel is a horse designed by a committee”. BP seems designed by committee. It is a jack of all trades, where it should be the master of one. What is the elevator pitch for buying a stock? BP takes a trans-continental train …