BP sells off stake in North Sea Shearwater Field to P-E firm

  • BP ( BP ) confirms it agreed to sell its 27.5% stake in the U.K. North Sea's Shearwater field to private equity-backed Tailwind Energy for an undisclosed sum.
  • BP says it will keep its Andrew area assets, also in the U.K. North Sea, which it had been looking to sell.
  • The company had agreed last year to sell the Shearwater and Andrew projects to Premier Oil for $625M, but the deal was pulled following a reverse takeover of Premier.
  • The Shearwater field, which is operated by Royal Dutch Royal Dutch Shell ( Royal Dutch Shell A .A, Royal Dutch Shell A .B), currently produces 18K boe/day, after peaking in 2004 when it pumped more than 160K boe/day.

    For this year the company from London could earn a total revenue around 240.85 billion GBp. This is according to the average of the analysts' estimates. This is hugely more than 2020's revenue of 161.29 billion GBp.

    Historical revenues and results BP plus estimates 2020

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    The analysts expect for 2021 a net profit of 9.05 billion GBp. According to most of the analysts the company will have a profit per share for this book year of 45 GBp. So the price/earnings-ratio equals 6.81.

    Huge dividend BP

    Per share the analysts expect a dividend of 21 GBp per share. BP 's dividend yield thus equals 6.85 percent. The average dividend yield of the oil & gas producers is a relatively high 3.08 percent.

    Newest target prices around 321 GBp

    The most recent recommendations for the oil & gas producer are from HSBC , Berenberg and Deutsche Bank .

    BP 's market capitalization is based on the number of outstanding shares around 6204.26 billion GBp. The BP stock was the past 12 months quite unstable. Since last May the stock is 4 percent higher. This year the stock price moved between 189 and 377 GBp.

    Historical stock prices BP

    fundamental data bp

    At 14.30 the stock trades 0.15 percent higher at 306.55 GBp.

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