Elliott builds BP stake of nearly 5%, pushes for big divestments, source says
Activist investor Elliott Management has built a near 5% stake in BP and is pushing the oil company to take radical action to transform its performance, including a big divestment programme, a source familiar with the matter told Reuters on Thursday.
BP Pledges Strategy 'Reset' as Activist Elliott Builds Stake
The Feb. 26 strategy update has long been seen as a crucial test of Auchincloss’s vision for BP, even before Bloomberg reported that Elliott had built up a stake. After several years of falling further behind peers, investors want to see significant changes at the company.
BP trades at around 10x this year's profits, while its American peer XOM trades at 14-15x this year's profits. See what makes ...
BP Plc CEO Murray Auchincloss insisted that the company’s “fundamental reset” has been in the works for a year, while ...
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BP PLC (BP) reports increased upstream production, a 10% dividend hike, and $7 billion in share buybacks, while navigating ...
BP has a laundry list of problems. The $93 billion UK oil major has a confused strategy, an overleveraged balance sheet, and ...
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BP Stock In Spotlight After Report Says Elliott Acquires About $5B Stake, Aims To Push For Asset Sales: Retail Mood BrightensBP Plc (BP) stock garnered retail attention premarket on Thursday after a report said activist investor Elliott has taken up a nearly $5 billion stake in the company and would push for asset sales. A ...
BP Q4 earnings and revenues decline year over year due to lower commodity price realizations and weaker contributions from ...
The energy giant was vague on details, but analysts say the changes is likely to include less spending on renewable sources ...
UBS analyst Henri Patricot adjusted the price target for BP Plc. (NYSE:BP:LN) (NYSE: BP), increasing it to GBP5.25 from the previous GBP5.00, while reaffirming a Buy rating on the shares. The ...
BP PLC shares are trading lower after the company reported fourth-quarter results. Sales and other operating revenues came in ...
Energy giant BP plc (BP) announced a strategy reset and a $1.75 billion stock buyback program after missing fourth quarter ...
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