To put things into perspective, BP is well over double the size of ASX giant Woodside (WDS). BP reported its first-quarter 2025 earnings on April 29, revealing a significant decline in profitability and a strategic shift back toward oil and gas production. Their earnings missed analyst expectations but the stock only dropped around 3%, with expectations already low. Buying BP is a proxy for the oil price with the added spice of a potential takeover – it looks interesting in the £300-350 region.
- We like the risk/reward towards BP if we see a drop in oil prices, which takes the UK energy stock to fresh 2025 lows.
MM is neutral BP around £350
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NB BP also trades in the US under the ticker code BP US, where it closed overnight up 3.8% at $US29.18
