What changed
$BP ā BUY š | 6 MONTHS THESIS
šÆ latest | Rev $39.6B | EPS $1.24 vs $0.93 š¢
š” Consensus expects earnings to revert quickly on lower oil prices, but BPās operational gearing and cost discipline may keep earnings higher for longer, leading to upward estimate revisions and a narrowing of its discount to peers.
š Reward/risk: 2.6:1
š¢ Business Quality: 6/10 - Integrated oil major with diversified portfolio and improving returns, but still faces transition risks and operational legacy issues; currently in a strong cyclical position.
š Valuation: cheap on trailing metrics (8x P/E, 4x EV/EBITDA, 12% FCF yield) relative to historical averages and the market, but fair on normalized mid-cycle...
š Our read: BUY. Full analysis ā
https://stockduty.xyz/s/BP0623