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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  GlobalData Plc    DATA   GB00B87ZTG26

GLOBALDATA PLC

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GlobalData : BP to move heavily in acquisitions & divestments to deliver new strategy, says GlobalData

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08/05/2020 | 10:02am EDT
05 Aug 2020
BP to move heavily in acquisitions & divestments to deliver new strategy, says GlobalData
Posted in Oil & Gas

Following yesterday's announcement of BP's strategy for transition from an International Oil Company to an Integrated Energy Company,

Will Scargill, Managing Oil & Gas Analyst at GlobalData, a leading data and analytics company, offers his view on this transition;

'BP has set out ambitious targets for the realignment of its business within five and ten year time frames. An overhaul of this scale will require significant movements in the M&A market, if it is to be delivered in the targeted timeframe.

'Among its growth plans for low-carbon energy sources, BP's target for renewable power generation capacity is a big ask. Its most significant renewables interests, at present, come from its 50% stake in Lightsource BP, which targets 10GW by 2023. To reach 20GW by 2025 and 50GW by 2030 will likely require significant acquisitions on top of the expansion of capital spending that BP has set out.

'In terms of its traditional oil and gas segment, BP will need to offload assets that are not high-grade to hit its targets of improving returns on capital from a reduced asset base. It is following up its previous $15bn divestment target with a target of $25bn for the period 2020-25. Assets most likely to be put on the market are legacy positions with little growth potential.'

If you would like to find out more, send your questions to Rebecca Panks, PR Executive at GlobalData (pr@globaldata.com)

Disclaimer

GlobalData plc published this content on 05 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2020 14:01:10 UTC

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Financials
Sales 2020 180 M 230 M 230 M
Net income 2020 23,0 M 29,5 M 29,5 M
Net Debt 2020 41,0 M 52,6 M 52,6 M
P/E ratio 2020 80,6x
Yield 2020 1,12%
Capitalization 1 711 M 2 188 M 2 193 M
EV / Sales 2020 9,75x
EV / Sales 2021 9,00x
Nbr of Employees 3 355
Free-Float 26,4%
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Mean consensus HOLD
Number of Analysts 3
Average target price 1 418,50 GBX
Last Close Price 1 450,00 GBX
Spread / Highest target 12,9%
Spread / Average Target -2,17%
Spread / Lowest Target -17,2%
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Michael Thomas Danson Chief Executive Officer & Director
Bernard Anthony Cragg Chairman
Graham Charles Lilley Chief Financial Officer, Secretary & Director
Peter Martin Harkness Independent Non-Executive Director
Murray Legg Non-Executive Director
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