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BP shares rise 5% after British oil giant announces plans to boost shareholder returns - TL;DR CNBC

BP shares rise 5% after British oil giant announces plans to boost shareholder returns

Publishing timestamp: 2024-02-06 11:56:31


Summary

BP reported a steep fall in annual profit but saw its shares rise after announcing an increased pace of share repurchases and dividend. Analysts were surprised by BP's commitment to share buybacks and its 2025 EBITDA targets. The company's fourth-quarter results reflected strong gas trading and lower refining margins. BP's results come as it faces pressure from activist investors and undergoes leadership changes.


Sentiment: MIXED

Tickers: CVXSHEL-GBBP.-GBBP.-LNXOM

Keywords: oil and gasbreaking news: europeearningsenergybusiness newsbp plcbusinessunited kingdom

Source: https://www.cnbc.com/2024/02/06/bp-earnings-q4-and-fy-2023.html


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