Where to buy BP stock as price drops amid $1.5B share buyback plan in this quarter

0

The BP stock has shed off about 4% amid claims that the BP Company is planning a $1.5 billion share buyback this quarter alone to enable it windfall profits to invest in renewables.

BP’s buyback strategy resonates with the wider Big Oil companies including the likes of Shell, Chevron, ExxonMobil, Total Energies, Equinor, and Eni that are set to for a supercharged share buyback estimated to amount to about $38 billion.

To help stock investors interested in investing in BP stock, Invezz has created a brief article on what it is and where to buy it.

To find out more, please continue reading.

Best places to buy BP stock

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.


Register with eToro instantly

Webull

Financial company driven by technology and offering all-in-one self-directed investment platform that provides excellent user experience.


Register with Webull instantly

What is BP stock?

BP stock is the stock of BP Plc and it trades in the US on the New York Stock exchange under the ticker NYSE: BP.

In a nutshell, BP Plc is a British multinational oil and gas company. It is headquartered in London, England and is ranked as one of the seven largest oil and gas companies in the world.

BBP is vertically integrated and operates in all areas of the gas and oil industry. It does exploration, extraction, refining, distribution, marketing, and power generation besides trading.

Should I buy BP stock today?

If you want to invest into the shares of one of the largest gas and oil companies in the world, then the BP stock could be a good choice.

Nonetheless, besides the current price dip, there is another impending challenge posed by the conflict between Russia and Ukraine, which if it broke into a full-blown war could impact the price of oil and gas prices and ultimately affect BP’s share prices.

BP stock price prediction

Analysts are keeping a keen eye on the events around the Russia-Ukraine dispute that is attracting the attention of the Western Countries. Currently, the price of the BP stock is expected to continue dropping as the conflict escalates.

$BP social media coverage

Big Oil on course for near-record $38bn in share buybacks: The seven supermajors – BP, Shell, ExxonMobil, Chevron, TotalEnergies, Eni and Equinor – set for supercharged stock purchasing on top of estimated $50bn of dividends. https://t.co/JILyEQQgvJ pic.twitter.com/jPKPhKdBwQ

— Holger Zschaepitz (@Schuldensuehner) February 20, 2022

Sources on that
Gas prices https://t.co/OBvIHO3gvJ
Exxon profit https://t.co/fiTqAGrLsg
Chevron profit https://t.co/qDxywjIKDd
Shell profit https://t.co/AaqMTEJ2cL
BP profit https://t.co/dMWlnvLXPT

The companies are using their higher profits on dividends and stock buybacks

— Dan Price (@DanPriceSeattle) February 11, 2022

The post Where to buy BP stock as price drops amid $1.5B share buyback plan in this quarter appeared first on Invezz.